Radiant Capital Hacker Buys $23.7M ETH After $4.7K Selloff

The hacker behind the Radiant Capital exploit has made another bold move in the market. Within the past hour, they spent $23.7 million DAI to buy 5,475 ETH. With an average price of $4,330, according to on-chain monitoring by analysts. This comes just a week after the same wallet sold ETH at an average of $4,726. That locking in significant gains before the latest market dip. Ethereum has been trading in a volatile range between $4,000 and $5,000 in recent weeks. The hacker appears to be capitalizing on this swing, repeatedly buying low and selling high.

History of Calculated Trades

Since stealing $53 million in assets from Radiant Capital last year, the hacker has actively managed their holdings. After the exploit, they purchased 21,900 ETH at $2,420 for long-term storage. Since then, their wallet has shown a pattern of precise trades. On August 14, the hacker sold 9,631 ETH at an average price of $4,562, securing $43.9 million DAI. 

Six days later, on August 20, they bought 4,914 ETH at $4,167, worth $20.4 million. Days later, they sold 3,931 ETH at $4,726 for another $18.5 million. Each trade has been well-timed, exploiting ETH’s volatility. Analysts note that these moves resemble professional swing trading rather than panic-driven selling. Despite being tied to illicit funds, the strategy has so far multiplied the hacker’s stolen assets.

Current Holdings and Value

The hacker’s wallet remains substantial. After the latest $23.7 million purchase, they now hold an estimated 13,300 ETH alongside tens of millions in stablecoins. Combined, the portfolio is valued at more than $104 million. This represents nearly double the $53 million originally stolen. Market observers say the wallet’s activity underscores how sophisticated hackers often sustain profits long after the initial breach.

Market Implications

The hacker’s aggressive buying and selling have drawn attention from traders who track whale movements. Some argue the activity reflects broader confidence in Ethereum’s resilience, even from unconventional players. Others caution that these trades highlight the challenges for regulators. That face in stopping illicit funds from cycling through crypto markets. 

While the hacker remains anonymous, their activity continues to make headlines. Each major buy or sell order has the potential to influence short-term ETH sentiment, especially when executed in multimillion-dollar volumes. Currently, the Radiant Capital hacker remains one of the most visible. However, surprisingly successful players exist in Ethereum’s volatile trading environment.