- The wallet linked to the $330 million Coinbase hack bought $8 million worth of Solana after moving stolen funds through stablecoins.
- The Radiant Capital hacker turned $58 million stolen in 2024 into over $105 million by actively trading Ethereum, doubling their haul.
- Another hacker lost $6.9 million on bad trades but later made $9.75 million, showing mixed results among hackers trading stolen crypto.
A wallet labeled the “Coinbase hacker” by blockchain analysts bought $8 million worth of Solana on Sunday, using money tied to a theft of over $300 million from Coinbase users, according to Lookonchain.
Meanwhile, another hacker from the Radiant Capital exploit has been trading Ethereum, turning their stolen funds into a bigger pile, showing how some criminals are playing the crypto market with their loot.
Hackers Trading Stolen Funds
Lookonchain reports the Coinbase hacker swapped DAI for USDC, moved it to the Solana network, and bought 38,126 Solana coins at about $209 each. With Solana now at $202.15, they’re sitting on a small paper loss.
Arkham flagged this wallet as the “Coinbase hacker,” and Lookonchain links it to a $330 million scam, as noted by analyst ZachXBT in May.
Back in July, this hacker sold 26,762 Ether for $69.25 million and bought 4,863 Ether for $12.55 million and 649 Ether for $2.3 million.
The Radiant Capital hacker, who stole $58 million in October 2024 from the DeFi platform on BNB Chain and Arbitrum, swapped their haul into 21,957 Ether, now worth about $103 million as of August 14. Last week, they bought 4,913 Ether and sold 4,131 Ether, making a $2.7 million profit, growing their stash from $49.5 million to over $105 million, a 114% jump.
Another unknown hacker wasn’t so lucky, losing $6.9 million by selling 12,282 Ether and buying back at a higher price in July, though they later made $9.75 million selling 4,958 Ether on August 15. These moves show hackers are actively trading, with mixed results.
Source: https://thenewscrypto.com/coinbase-hack-wallet-buys-8m-in-solana-as-hackers-trade-stolen-crypto/