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Trader 58bro.eth offloads 8000 ETH in the past hour to repay loans

On-chain data shows trader 58bro.eth (@0x58bro) sold 8000 ETH over the past hour. The user withdrew over $17.96 million worth of ETH from Aave, then deposited the funds to OKX in batches, and has now withdrawn 10.5 million USDT to repay outstanding loans. 4911.05 WETH remains staked as collateral on Aave, against which 2.51 million USDT has been borrowed, with a current health factor of 3.69.

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Industry Insiders: Stolen Bitcoins from Binance Are Highly Unlikely to Be Recovered, No Significant Market Sell-Off Observed

Recovery of the stolen assets has become far more challenging <p>Bobby Lee, founder of digital asset hardware wallet firm Ballet, explicitly stated in a Bloomberg TV interview that the Bitcoins stolen in the Binance hacking incident are highly unlikely to be recovered, as the relevant assets have already fallen into the hackers' possession. He pointed out that currently, only stablecoins have a realistic possibility of being recovered, and freezing assets does not equate to completing recovery. Binance will still need to continuously cooperate with law enforcement authorities in subsequent investigations and formally submit applications to claim the frozen relevant assets.</p><p>This incident has not caused drastic volatility in Bitcoin's price action. No significant sell-off of Bitcoin was observed during Friday's Asian trading session. As of 13:03 Hong Kong time, Bitcoin's price fell by less than 1% to trade at $78,269.</p><p>The overall maturity of the current crypto market has improved markedly, with its total size reaching the multi-trillion-dollar level. Even asset losses at the scale of $1 billion, $2 billion or even $5 billion will not deliver a devastating blow to the entire market, and the market's risk resistance capability has been significantly enhanced compared to prior periods.</p>

Trader 58bro.eth offloads 8000 ETH in the past hour to repay loans | CoinByte