Coinbase Hack: Attacker Buys 4,800 ETH After Two-Month Silence

After a brief period of inactivity, a hacker linked to the $300 million Coinbase hack has resurfaced.  The hacker acquired 4,863 ETH, worth around $12.55 million, sparking anticipations about their next move. What’s behind this move?

Coinbase Hacker Acquires $12.55 Million ETH

According to Lookonchain data, the Coinbase hacker who stole $300 million from the platform has recently made a bold move. Earlier today, the hacker bought 4,863 ETH ($12.55 million) for $2,581 per token.

The transaction follows a significant liquidation event in May, where the entity offloaded 26,762 ETH, valued at $69.25 million, at $2,588 per ETH. This new transaction coincides with the Ethereum price’s move to reclaim the psychological $2,600 level. Over the past week and month, the token has seen more notable surges of 4.5% and 2.6%.

About two months ago, the same hacker address sold 26,347 ETH, obtained through THORChain, for $68.18 million in DAI at an average price of $2,587. Now, they’ve made a new purchase, likely as part of a strategy to convert stablecoins back into ETH.

As reported by CoinGape in May 2025, Coinbase faced a significant data breach, resulting in the loss of sensitive data belonging to high-profile users like Sequoia Capital’s Managing Partner, Roelof Botha. According to Coinbase, a hacker compromised the data of 97,000 users by bribing a customer support employee based outside the United States.

What’s Driving the Hacker’s Latest ETH Buy?

Notably, the Coinbase hacker’s ETH purchase has raised eyebrows, particularly regarding their motive. As this move comes amid the positive crypto market trend, the community believes that the hacker remains bullish, especially on Ethereum. An analyst on X wrote, “Not the usual average hacker. This dude knows not only how to hack but also how to move in crypto world.”

The community members also humorously underscored the hacker’s clever strategy, adding that their risk management skills are better than many in the crypto space. They stole $300 million, potentially profited from the subsequent market pump, and now they’re buying back before a potential uptrend.