Whale transacts over 150k ETH between Binance and Curve Finance

A whale has been spotted moving huge amounts of Ethereum, moving them between Binance and Curve Finance in two days. The transactions carried out on the 24^th and 26^th of November come in the middle of speculations that a hacker draining FTX is looking for means to launder his loot.

Ongoing discovery

According to 0x Scope, the whale’s activity was first reported on the 23^rd of September when he moved 0.22 ETH to a Binance wallet. Fast-forward to November 26^th, the whale began to move ETH gradually to Binance. On that day, 0.01 ETH was recorded to have moved to Binance at 08:49 UTC.

Activity continued on the same day at 09:19 UTC. The whale stepped up his transaction and moved 8,107 ETH from his wallet into Binance. And another 7,999 at 13:20 UTC on the same 26^th. That brought the whole day’s transaction to 16,106.01 ETH moved to the Binance exchange.

On the next day, the 27^th, activities began with a transfer of 8.199 ETH to Binance at 07:04 UTC. It capped with another transfer of 7,536 ETH the same day at 13:43. 

Monday November 28^th has seen the largest ETH movement from the whale so far. Activities started as early as 01:40 am with the movement of 8,035 ETH to Binance. It was quickly followed up by another 8, 432 at 02:14. The third transaction came up at 03:39 when 8,487 ETH moved to Binance.

FTX drainer links?

There was yet a fourth one that saw 8, 430 ETH deposited to Binance at 04:14. As of the time of this report, a fifth transaction had been carried out and it entailed a movement of 7, 999 ETH from the same whale to Binance.

Exchanges have recently been warned to look out for the FTX drainer who has been on the prowl and moving large amounts of ETH and a few other assets. It was reported last week that the drainer might not be working alone as reports emerged of suspicious alternate movements between the drainer’s wallet and a smart money wallet.

The smart wallet simply comes alive and carries out trades shortly after the drainer’s wallet ceases activity. And the drainer wallet picks up activity shortly after the other wallet ceases.

The mass movement has effectively manipulated the Ethereum price due to the pump and dump. Exchanges hope to track and block such transaction activities before they are carried out.