Coinbase Hacker’s $300M Wallet Goes on ETH Buying Spree - Snaps Up 3,976 ETH as Prices Soar

Just when you thought the crypto wild west couldn't get wilder—the very wallet behind the infamous $300M Coinbase exploit is making moves.

Massive ETH Accumulation

The address just acquired 3,976 ETH amid surging markets—adding fuel to the speculative fire and raising eyebrows across the sector.

Timing the Rally

Purchases align perfectly with Ethereum's recent bullish momentum—because nothing says 'market confidence' like a hacker's wallet doubling down during a price surge.

Regulatory Irony

While traditional finance debates compliance, decentralized wallets keep executing—no KYC, no questions asked, just pure unadulterated capital movement.

Because in crypto, even the villains play the markets better than most hedge funds.

TLDR

• Coinbase hacker wallet uses DAI to acquire nearly 4,000 Ether amid ongoing surveillance.
• The wallet has been linked to a $300M social engineering scam targeting Coinbase users.
• Blockchain analysts report continuous activity from the hacker, including ETH and SOL purchases.
• ETH price surge coincides with hacker’s recent acquisition, marking a two-week high.

A crypto wallet tied to a notorious Coinbase hacker has made a substantial purchase, acquiring 3,976 Ether (ETH) for over $18.9 million at a price of $4,756 per token. According to Arkham Intelligence, this acquisition was made on Saturday, utilizing 18.911 million DAI. The hacker consolidated various amounts of DAI, ranging from $80,000 to $6 million, before executing several ETH buys.

Coinbase Hacker Under Surveillance

The wallet, which has been under close surveillance since earlier this year, is linked to a $300 million social engineering scam targeting Coinbase users. Blockchain analysts have been monitoring the address, which has been implicated in various illicit activities.

ZachXBT, a prominent on-chain sleuth and security analyst, estimated that the scam defrauded victims of at least $330 million. ZachXBT emphasized that the total amount stolen could be much higher, as their data was limited to direct messages and on-chain thefts discovered.

Ongoing Trades and Ether Purchases

This latest Ether purchase is just one of several significant trades executed by the hacker’s wallet. In the past month, the same wallet acquired $8 million worth of solana (SOL), although the price of SOL has since dropped below the entry point. Prior to that, in July, the wallet made two notable purchases of ETH—4,863 tokens valued at $12.55 million and 649 tokens valued at $2.3 million. These purchases were made at a price of $3,562 per token.

The timing of the most recent Ether acquisition coincides with a rise in ETH’s price. On Saturday, the cryptocurrency surged above $4,700, reaching a local high of $4,763—its highest price in more than two weeks. At the time of writing, ETH was trading at $4,718, reflecting a 4.5% increase over the past 24 hours.

Crypto Trader Turns $125,000 into $6.8M Profit

Meanwhile, another notable crypto trading story surfaced involving a trader on the Hyperliquid platform. The trader successfully transformed a $125,000 deposit into a leveraged position worth $303 million on Ether. Over four months, the trader compounded gains and used high leverage to reach a peak equity of $43 million.

The position was ultimately exited with a realized profit of $6.86 million. This impressive feat further highlights the volatility and opportunities within the crypto market, underscoring the potential for large profits with the right strategies.