Hacker Behind $300M+ Coinbase Heist Buys $18.9M in Ethereum

On a rather outrageous twist, the hacker who stole more than 300 million dollars of Coinbase users reportedly repurchased 3,976 ETH at a cost of 18.9 million dollars at 4,756 per ETH.

Blockchain and Transaction analysis.

These tricks are indications of more advanced laundering techniques used by the crypto criminal underworld. Interestingly, the Ether price at the point of acquiring it (4,756) was higher than the day before (4,539.62) and this may imply that the market is shifting fast or some individual may have just bought it at a high price to reinvest before further tracking. There were no borrowing and lending platforms since the net value of loans was at zero. With recovery efforts capturing only a small fraction due to jurisdictional and technological hurdles in the decentralized space.

Coinbase Greater Market Tendencies and Connotations

Image from X

CoinDCX analysts estimate that Ethereum might trade above 5,800-6,000 by the end of the year in case ETF demand continues to be high. Furthermore, the latest market volatility experienced liquidations of network of an amount of $396 million within a 24-hour period which increased volatility. The massive acquisition by the hacker can also create disruptive effects to the market as it manipulates leveraged positions and can also add to price fluctuations.

Security Problems and Legal Implications

In spite of the fact that Coinbase guarantees the complete refund to all users who have lost money and cooperates with the law enforcement in 2025, the hacker is still active. Chainalysis projects a 17 percent increase in stolen crypto assets in 2025, to 2.17 billion, and recovery efforts to only a small fraction due to jurisdictional and technical obstacles in the decentralized arena. Though the attribution behind the Coinbase hack is unclear, experts point to several similarities in the strategy and execution which have sounded red flags regarding the potential underpinning political intent.