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The FTX hacker who drained $600 million from the crypto exchange began moving the stolen funds Tuesday. Having siphoned funds from FTX’s wallets on Friday, the attacker then amassed $48 million of the stablecoin DAI, before swapping it all for 37,000 ETH. The address now holds more than 288,000 ETH, making it the 35th-largest owner of the cryptocurrency, according to data by security firm PeckShield. FTX announced on Friday that it had been hacked only hours after it had filed for bankruptcy.

Solana DeFi applications have lost more than $700 million in value since the FTX debacle took hold at the start of this month. DeFi (decentralized-finance) applications in the ecosystem grew to $10 billion last November, with FTX founder Sam Bankman Fried among Solana’s chief proponents. That figure diminished with the broader crypto market contraction to sit at $1 billion on Nov. 2 this year, before shrinking dramatically to around $300 million with the FTX fallout. The more than 50% drop in the price of SOL, the network’s native token, has contributed to the fall. At the time of writing, SOL was priced at $14.64, compared with $32.64 at the start of this month.

FTX may have more than 1 million creditors, according to a court document that helps to explain the crypto exchange’s sudden descent into bankruptcy. FTX filed a motion to handle its overall group of entities rather than treating its various subsidiaries and arms as individual cases. The firm filed for bankruptcy on Friday, saying it had between $10 billion and $50 billion in assets and liabilities.