Crypto Wallet Linked to Coinbase Hacker Buys More Ether, New Trade Success on Hyperliquid

A crypto wallet connected to a well-known Coinbase hacker has recently purchased nearly 4,000 Ether (ETH), worth over $18.9 million. The hacker made the purchase at a price of $4,756 per ETH using DAI, a stablecoin.

As it stands, this trade took place on Saturday, with on-chain data showing that the hacker gathered several amounts of DAI, ranging from $80,000 to $6 million, before buying the Ether.

To provide context, blockchain analysts have been keeping a close eye on this wallet, as it is tied to a major $300 million social engineering scam that targeted Coinbase users.

Hacker’s History and Latest Moves

The wallet in question is connected to a well-known $300 million+ scam, which targeted Coinbase users. Earlier this year, on-chain investigator ZachXBT estimated that the hacker may have stolen more than $330 million. However, he believes the actual amount could be much higher because the data only covered a limited scope.

The hacker’s activities have not stopped there. In addition to the recent Ether purchase, the same wallet previously bought $8 million worth of Solana in several transactions, although the price of Solana has since dropped. This purchase follows earlier acquisitions of Ether in July, including 4,863 ETH and 649 ETH.

Crypto Trader Makes Huge Gains on Hyperliquid

In other crypto news, a trader on the Hyperliquid platform turned an initial deposit of $125,000 into $6.8 million in profit. The trader used high leverage and continuously compounded gains over four months to grow a position in Ether.

To this end, the trader’s method of recycling profits into one large position paid off as the price of Ether increased, allowing them to exit just before the market cooled. At the moment, the position reached a peak value of $43 million before the trader closed it, securing a 55x return on their original investment.

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