A hacker, believed to be from North Korea, has become the 14th-largest holder of ether (ETH) with 489,000 ETH, worth about $1.34 billion. This stash represents 0.4% of the total ether supply. The hacker’s holdings surpass those of the Ethereum Foundation, Vitalik Buterin, and Fidelity. Due to the hacker’s blacklisting by exchanges, this supply is likely lost forever. Bybit, the exchange that was hacked, has secured a loan to cover 80% of the lost ETH but will still need to buy more ETH in the market. This situation has led to a 2.6% increase in ether’s price to $2,730 from an overnight low of $2,614. Funding rates for perpetual futures tied to ether remain positive, indicating a bullish market sentiment.
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