$300M Coinbase hacker buys $18.9M in Ether as ETH breaks above $4,700

A crypto wallet linked to an infamous Coinbase hacker has bought different 3,976 Ether, worthy implicit $18.9 million, astatine $4,756 per token, according to onchain data.

The acquisition was made connected Saturday, utilizing 18.911 cardinal DAI (DAI), according to information from Arkham Intelligence. The hacker consolidated assorted DAI amounts, ranging from $80,000 to $6 million, earlier executing aggregate ETH buys.

The Coinbase hacker wallet has been nether surveillance by blockchain analysts since earlier this year. It’s reportedly tied to a $300 million+ societal engineering scam that targeted Coinbase users.

In May, onchain sleuth and information expert ZachXBT estimated that the run defrauded victims retired of astatine slightest $330 million. “Our fig is apt overmuch little than the existent magnitude stolen arsenic our information was constricted to my DMs and thefts we discovered onchain,” helium said astatine the time.

Coinbase hacker buys ETH. Source: Lookonchain

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Coinbase hacker makes much crypto trades

The latest Ether accumulation follows a bid of important trades from the aforesaid address. Last month, the wallet acquired $8 cardinal worth of Solana (SOL) crossed respective purchases, which has since slipped beneath the introduction price.

Prior to that, successful July, the aforesaid wallet scooped up 4,863 ETH ($12.55 million) and 649 ETH ($2.3 million) astatine astir $3,562 per token.

Meanwhile, the latest Ether acquisition comes arsenic the terms of ETH roseate supra $4,700 connected Saturday to deed a section precocious of astir $4,763, its highest level successful much than 2 weeks. At the clip of writing, ETH is trading astatine $4,718, up by 4.5% implicit the past day.

Related: Latin American devs favour Ethereum and Polygon implicit caller chains: Report

Trader turns $125,000 into $6.8 cardinal connected Hyperliquid

A crypto trader connected Hyperliquid transformed a $125,000 deposit into a $303 cardinal leveraged agelong connected Ether, achieving a highest equity of $43 cardinal earlier exiting with $6.86 cardinal successful realized profit. The presumption was built implicit 4 months done continuous compounding and precocious leverage.

The trader’s approach, which was recycling each gains into a azygous position, was backed by favorable terms enactment and timing. As the ETH marketplace showed signs of cooling, the trader unwound the 66,749 ETH agelong conscionable earlier the reversal, preserving a 55x instrumentality connected the archetypal stake.

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