Crypto News: $300 Million Coinbase Hacker Acquires 3,976 Ether - Bold Move Signals Confidence in ETH’s Future

While traditional finance regulators scramble to keep up, the digital asset space continues to rewrite the rules of value movement. A sophisticated actor just made one of the most audacious plays in recent crypto history.

The $300 Million Heist That Keeps Giving

Fresh off one of the largest exchange breaches, the perpetrator isn't hiding—they're strategically deploying capital. Scooping up exactly 3,976 ETH shows calculated precision rather than panic dumping.

Ether's Resilience Amid Chaos

While bankers fret about volatility, smart money recognizes ETH's fundamental strength. This acquisition signals deeper conviction in Ethereum's infrastructure than most wealth managers have in their own portfolios.

Decentralization's Ironic Security

The very transparency that makes crypto terrifying to institutions is what makes movements like this traceable yet unstoppable. Try tracking a traditional bank heist this efficiently—you can't.

Another day in crypto where the 'unsecured' digital assets prove more secure than the 'regulated' traditional system. Maybe the real security risk was traditional finance all along.

A notorious crypto wallet linked to the Coinbase hacker made another big crypto purchase. The $300 million Coinbase hacker added approximately 3,976 Ether for $18.9 million, when it is trading at $4,724.79. The crypto company is yet to drop a comment on this matter. 

How is Coinbase Hacker Making More Acquisitions?

Earlier this year, the hacker made purchases using stolen funds from the global crypto exchange, Coinbase. According to data from Arkham Intelligence, the hacker acquired more Ether on Saturday by using 18.911 million DAI.

He reportedly collected different amounts of the stablecoin DAI, ranging from $80,000 to $6 million, and then used those to buy ethereum (ETH) in multiple transactions. The hacker has been moving and diversifying the stolen assets, using various methods to avoid detection, including breaking the purchases into smaller amounts and using privacy tools. 

This is part of a strategy to launder the stolen money through Ethereum and other cryptocurrencies. He even converts the stolen funds into ETH, which makes it easier to move and harder to trace. 

What is Coinbase Doing Against This? 

Earlier this year, in February, crypto investors ZachXBT and others accused Coinbase of failing to address security vulnerabilities and scam incidents. It has cost investors millions of dollars each month, but Coinbase is not lazing around. Instead, it took several steps to stop this heist. 

In May, Coinbase offered a $20 million reward for information leading to the arrest and conviction of those responsible for the attack. It also reported the breach to the SEC and said in its 8-K filing that it anticipates suffering a hit of $180 to $400 million in remediation costs and reimbursements. 

Moreover, the company invested in increased investor threat detection to ensure the stoppage of hacks. It also put out a detailed blog in May to compensate affected customers. Despite its strong efforts, it couldn’t identify the hacker, and he made another purchase.