The Coinbase Hacker Amasses Ethereum with Bold Moves

Key Points

1. The hacker purchased 649.62 ETH for $2.31 million in 12 hours at an average price of $3,561 per ETH, following earlier purchases of 4,863 ETH for $12.55 million at $2,581 each.

2. After selling 26,762 ETH for $69.25 million in May, the hacker resumed accumulating ETH, benefiting from a 40% price increase, turning their portfolio into millions in unrealized gains.

3. The attack originated from bribed Coinbase overseas call center employees, leading to a data breach that indirectly converted leaked information into profit.

4. The hacker used blockchain privacy techniques to reduce visibility and minimize price slippage while capitalizing on Ethereum's rising market value.

5. Coinbase refused to negotiate with the hacker and promised full compensation for affected users.