A crypto wallet associated with a notorious hacker who previously breached Coinbase has executed a substantial purchase of 3,976 Ether, valued at over $18.9 million. The transaction, recorded on Saturday, was accomplished using approximately 18.911 million DAI. Onchain data from Arkham Intelligence reveals that the hacker consolidated multiple DAI amounts, with figures varying from $80,000 to $6 million, prior to several ETH acquisitions.
Since earlier this year, this specific Coinbase hacker wallet has been under close scrutiny by blockchain analysts. It is allegedly linked to a social engineering scam that netted over $300 million, primarily targeting Coinbase users. Security analyst ZachXBT estimated back in May that the scam had defrauded victims of at least $330 million, although he cautioned that this figure might be an underestimate due to the limitations of available data at the time.
This recent Ether acquisition adds to a series of notable trades executed by the wallet in question. Just last month, the wallet invested around $8 million in Solana, acquired through multiple transactions that have since seen the token’s value decline below the initial purchase price. In July, this wallet had also purchased 4,863 ETH for approximately $12.55 million and another 649 ETH for $2.3 million, both at around $3,562 per token.
The latest purchase of Ether aligns with a recent upward trend in Ether’s price, which surpassed $4,700 on Saturday, reaching a local peak of about $4,763—the highest it had been in over two weeks. As of the latest updates, ETH is trading at $4,718, reflecting a 4.5% increase over the previous day.
In related developments, a separate crypto trader on the Hyperliquid platform managed to turn a $125,000 deposit into a remarkable $303 million leveraged long on Ether. Over four months, this trader achieved a peak equity of $43 million before ultimately cashing out with realized profits of $6.86 million. The strategy involved continuously recycling gains into a single position, a move facilitated by favorable market conditions. Just before signs of market cooling became evident, the trader wisely unwound the 66,749 ETH long, securing a staggering 55x return on their original investment.
