7-7-2025 – The attacker behind a $300 million Coinbase breach has emerged from dormancy, purchasing 4,863 ETH worth $12.55 million at $2,581 per token, according to Lookonchain data.
The transaction marks the hacker’s first major move since May, when they liquidated 26,762 ETH valued at $69.25 million. The timing coincides with Ethereum’s recent bullish momentum, with the token up 1.9% to $2,562 and posting gains of 4.5% over the past week. Market observers interpret the purchase as a strategic repositioning ahead of potential price appreciation.
The original breach, first reported by CoinGape, affected 97,000 users after a hacker compromised Coinbase’s systems by bribing a customer support employee. High-profile victims included Sequoia Capital’s Managing Partner Roelof Botha. The attacker previously converted stolen funds through THORChain, selling 26,347 ETH for $68.18 million in DAI stablecoins.
Crypto analysts noted the hacker’s sophisticated trading approach, with one X user commenting that their risk management skills surpass many legitimate market participants. The purchase suggests the attacker may be positioning for another market cycle after profiting from earlier trades.