The FBI found that hackers primarily converted the stolen assets into ETH and expects them to continue laundering the funds through DeFi and instant crypto exchange services.
Seeing funds converted into ETH can easily lead people to think someone is bullish on the market. But these assets were already in the crypto market, and converting them may simply be one step in moving stolen funds—not necessarily a sign that the hackers intend to hold ETH long-term.
The volume of crypto conversions alone is not enough to determine whether new money is entering the market. Where the money came from and where it goes after the conversion both affect how the transaction should be interpreted.
[Investment Disclaimer] This article is for informational and market research purposes only. It does not constitute investment, financial, or trading advice, nor does it guarantee any returns. Crypto asset prices are highly volatile, and you could lose your entire principal. Please do your own research and assume all risks.
Seeing funds converted into ETH can easily lead people to think someone is bullish on the market. But these assets were already in the crypto market, and converting them may simply be one step in moving stolen funds—not necessarily a sign that the hackers intend to hold ETH long-term.
The volume of crypto conversions alone is not enough to determine whether new money is entering the market. Where the money came from and where it goes after the conversion both affect how the transaction should be interpreted.
[Investment Disclaimer] This article is for informational and market research purposes only. It does not constitute investment, financial, or trading advice, nor does it guarantee any returns. Crypto asset prices are highly volatile, and you could lose your entire principal. Please do your own research and assume all risks.
