Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH

2025-07-01 13:17:01

Main Idea

An on-chain analytics firm reveals significant financial losses from a fraudulent wallet's poor trading decisions, highlighting risks in high-stakes crypto trading.

Key Points

1. A fraudulent wallet received 12,282 ETH (valued at ~$23.72M) three months ago and sold it at $1,932 per ETH, resulting in substantial losses.

2. The same wallet later purchased 4,958 ETH at $2,495 per ETH, leading to a de-facto loss of ~$6.9M.

3. The analysis underscores that even hackers or cybercriminals can incur heavy losses from high-risk, overleveraged trades.

Description

An on-chain analytics firm analyzes the losses from a fraudulent wallet. The beauty of trading on-chain lies in the fact that every transaction is 100% public – that goes for both professional traders, beginners, and, believe it or not – even hackers. This is the story of a supposed fraudster who lost millions in a bad trade. Hackers Are Not Savvy Traders Lookonchain, a popular blockchain analysis firm, noted the activity early this morning on its account on the social media platform X. The wall...

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