$300 Million Coinbase Hacker Makes Sudden Comeback Into Ethereum (ETH)
2025-07-20 12:29:43
Main Idea
A hacker linked to a $300 million Coinbase breach has re-entered the Ethereum market, making significant purchases as ETH's price surges above $3,700.
Key Points
1. The 'Coinbase hacker' wallet purchased 649.62 ETH ($2.31 million) at $3,561 in a 9-hour span, marking their second major ETH buy in July.
2. ETH's price recently surpassed $3,700 for the first time this year, with the asset gaining over 40% in the past month.
3. Earlier in July, the same wallet bought 4,863 ETH ($12.55 million) at $2,581, reversing a previous sell-off of 26,762 ETH ($69.25 million) in May.
4. The hacker's transactions are routed through the CoW Protocol to minimize slippage and visibility.
5. The wallet now holds millions in unrealized gains, with an average entry price around $2,600.
Description
Ethereum (ETH) price spikes to $3,700 and so does activity from notorious major US exchange Coinbase hacker
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