Drift hacker-linked address profits $658K from ETH/BTC rate decline

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ETH
$1,932.38-4.1%
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BTC
$68,773.60-4.31%
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DRIFT
$0.011411.78%
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WALLETalpha
$0.01201-4.59%
AI summary iconSummary
A wallet linked to the Drift hacker executed a $20 million trading strategy with 20x leverage, shorting ETH and going long BTC. After a sharp decline in both assets, BTC recovered more quickly, causing the ETH/BTC rate to drop by 3.56%. The position sizing enabled the address to realize a $658,000 floating profit.

According to Ai Yi monitoring, the suspected Drift hacker-associated address 0x45d…c00ca established a 20x leveraged position yesterday consisting of a short on ETH and a long on BTC, totaling approximately $20 million, betting that ETH would weaken relative to BTC. Early this morning at around 6:00 AM, both BTC and ETH experienced significant declines, followed by a stronger BTC rebound compared to ETH, driving the ETH/BTC exchange rate down by 3.56%. As a result, the floating profit of this address’s long-short position expanded, reaching approximately $658,000 in a single day.

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