Coinbase Hacker Panic-Sells 3,976 ETH at a $932K Loss: What’s Next for Ethereum?

• Why Did the Coinbase Hacker Sell at a Loss?
• DAI vs. USDT: Why Criminals Prefer Decentralization
• Ethereum Whales Go on a $208M Buying Spree
• Regulatory Delays and ETH’s Price Rollercoaster
• FAQs: Your Burning Questions Answered

In a dramatic twist, the Coinbase hacker who stole over $300 million just took a $932K loss by dumping 3,976 ETH—all within 48 hours. Meanwhile, ethereum whales are making moves, withdrawing $208M+ from exchanges like Binance and Kraken. With regulatory uncertainty looming and ETH’s price swinging, here’s the full breakdown of the chaos, including why DAI is the stablecoin of choice for crypto criminals. ---

Why Did the Coinbase Hacker Sell at a Loss?

The hacker, who initially bought 3,976 ETH for $4,756 per token ($18.9M total), panic-sold at $4,522, netting just $17.98M—a $932K loss. Lookonchain data reveals the sale happened on September 15, 2025, likely triggered by market volatility or fears of traceability. In my experience, hackers often cash out fast to avoid price swings, but this MOVE reeks of desperation. The ETH was swapped for DAI, a decentralized stablecoin that’s harder to freeze—more on that later.

DAI vs. USDT: Why Criminals Prefer Decentralization

Unlike Tether (USDT) or USDC, DAI’s decentralized nature means no central authority can freeze funds. Arkham Intelligence confirms the hacker converted all ETH to DAI, a common tactic to evade tracking. As a BTCC analyst noted, “DAI’s lack of blacklisting makes it a haven for illicit activity.” Meanwhile, centralized stablecoins like USDT can be frozen—Tether Limited has done so repeatedly under regulatory pressure. Fun fact: DAI’s circulation hit $5B last month, per CoinMarketCap.

Ethereum Whales Go on a $208M Buying Spree

While the hacker was dumping, whales were accumulating. Lookonchain reported four massive ETH withdrawals on September 15: - Wallet 0x9D99: 5,297 ETH ($24.7M) from Binance and BTCC - Whale 0x7451: 13,322 ETH ($61.65M) from FalconX - Wallet 0x9d2E: $102M worth from Kraken (the day’s biggest move) Total haul: $208M+. This suggests institutional players are betting on ETH’s long-term value, despite short-term turbulence.

Regulatory Delays and ETH’s Price Rollercoaster

The SEC postponed decisions on Ethereum ETFs from BlackRock, 21Shares, and Grayscale to October 30, 2025—spooking traders. ETH dipped 1.57% to $4,522 after peaking at $4,700 earlier that day. CoinGlass data shows $108M in ETH futures liquidations, with 86% being long positions. “The delay adds uncertainty,” admits a BTCC market strategist. Still, Ethereum ETF inflows hit $13.36B by September 12, signaling strong institutional interest.

FAQs: Your Burning Questions Answered

How much did the Coinbase hacker lose?

The hacker lost $932K by selling 3,976 ETH at a lower price than purchase.

Why use DAI instead of USDT?

DAI can’t be frozen by a central authority, making it ideal for illicit transfers.

Are whales buying or selling ETH?

Whales withdrew over $208M worth of ETH from exchanges—a bullish signal.