A wallet tied to the $300 million Coinbase hack bought 3,976 Ether for $18.9 million, doubling down on ETH amid its recent push above the $4,700 level.
News
A crypto wallet linked to an infamous Coinbase hacker has bought another 3,976 Ether, worth over $18.9 million, at $4,756 per token, according to onchain data.
The purchase was made on Saturday, using 18.911 million DAI (), to data from Arkham Intelligence. The hacker consolidated various DAI amounts, ranging from $80,000 to $6 million, before executing multiple ETH buys.
The Coinbase hacker wallet has been under surveillance by blockchain analysts since earlier this year. It’s reportedly tied to a $300 million+ social engineering scam that targeted Coinbase users.
In May, onchain sleuth and security analyst ZachXBT estimated that the campaign . “Our number is likely much lower than the actual amount stolen as our data was limited to my DMs and thefts we discovered onchain,” he said at the time.
Related:
Coinbase hacker makes more crypto trades
The latest Ether accumulation follows a series of significant trades from the same address. Last month, the wallet of Solana () across several purchases, which has since slipped below the entry price.
Prior to that, in July, the same wallet scooped up 4,863 ETH ($12.55 million) and 649 ETH ($2.3 million) at around $3,562 per token.
Meanwhile, the latest Ether purchase comes as the price of ETH rose above $4,700 on Saturday to hit a local high of around $4,763, its highest level in more than two weeks. At the time of writing, ETH is trading at $4,718, up by 4.5% over the past day.
Related:
Trader turns $125,000 into $6.8 million on Hyperliquid
A crypto trader on Hyperliquid into a $303 million leveraged long on Ether, achieving a peak equity of $43 million before exiting with $6.86 million in realized profit. The position was built over four months through continuous compounding and high leverage.
The trader’s approach, which was recycling all gains into a single position, was backed by favorable price action and timing. As the ETH market showed signs of cooling, the trader unwound the 66,749 ETH long just before the reversal, preserving a 55x return on the original stake.
Magazine:
