Coinbase Hacker’s Bold Moves: Laundering Millions in ETH and DAI While Taunting Investigators

The perpetrator behind the recent Coinbase data breach has escalated their activities, laundering stolen cryptocurrency while openly mocking blockchain investigators. On-chain analytics reveal the hacker converted 8,697 ETH into 22 million DAI, with a separate transaction moving 9,081 ETH through THORChain before converting to another $23 million in the stablecoin. PeckShield’s analysis highlights a deliberate money laundering scheme designed to obscure the trail of stolen funds.

Coinbase Hacker Launders Millions in ETH and DAI, Taunts Investigators

The perpetrator behind the recent Coinbase data breach has escalated their activities, laundering stolen cryptocurrency while openly mocking blockchain investigators. On-chain analytics reveal the hacker converted 8,697 ETH into 22 million DAI, with a separate transaction moving 9,081 ETH through THORChain before converting to another $23 million in the stablecoin.

PeckShield’s analysis highlights a deliberate money laundering strategy, shifting illicit funds into dollar-pegged assets. The hacker’s brazenness reached new levels with direct taunts targeting ZachXBT, a prominent crypto investigator, using ethereum transaction memos as their medium.

This case underscores the evolving challenges in crypto security, where technical sophistication meets psychological warfare. The conversion to DAI suggests an attempt to stabilize stolen value while remaining within decentralized finance ecosystems.

Ethereum Price Forecast: Hackers Show Divergent Interest Amid 16% Rally Potential

Ethereum’s price hovered at $2,630 on Thursday as conflicting hacker activity underscored the asset’s volatility. A Coinbase exploiter dumped ETH holdings while the Cetus attacker accumulated, creating opposing pressure on the second-largest cryptocurrency.

Technical charts reveal an ascending triangle pattern forming on ETH’s 8-hour timeframe, suggesting a potential 16% breakout if resistance levels are overcome. The asset has already gained 5% today, buoyed by residual bullish sentiment from Bitcoin’s recent all-time high.

Market observers note Ethereum remains a preferred vehicle for hacked funds movement, with two major exchange exploiters executing opposite strategies. This paradoxical demand—from both liquidators and accumulators of stolen assets—highlights ETH’s enduring liquidity advantages in the digital asset ecosystem.