Wallet Linked to Coinbase Hacker May Have Bought 3,976 ETH (~$18.9M) as Ether Tops $4,700

• Wallet bought 3,976 ETH (~$18.9M) at ~$4,756 per token

• The address previously acquired SOL and multiple ETH lots; onchain activity tracked by security analysts

• Purchase used 18.911M DAI; onchain sleuths including Arkham Intelligence and ZachXBT analyzed the flows

Coinbase hacker buys Ether: wallet tied to a $300M scam acquired 3,976 ETH (~$18.9M). Read verified onchain details and analysis. Stay informed.

Onchain records show a wallet linked to the $300 million Coinbase hack bought 3,976 Ether (≈$18.9M) at about $4,756 per ETH, consolidating DAI reserves before executing the purchase.

A monitored wallet tied to an alleged Coinbase social‑engineering exploit accumulated 3,976 ETH on Saturday, using 18.911 million DAI to buy Ether as prices pushed above the $4,700 level. Onchain data shows multiple consolidated DAI transfers preceding the purchase.

Coinbase hacker buys ETH. Source: Lookonchain

What happened when the Coinbase hacker buys Ether?

When a Coinbase hacker buys Ether, onchain signals show systematic consolidation of stablecoins followed by sizable ETH purchases. The wallet used aggregated DAI (18.911M) to acquire 3,976 ETH at ~$4,756 per token, marking renewed accumulation during ETH’s move above $4,700.

How was the purchase executed and what onchain evidence supports it?

Onchain data indicates the wallet consolidated DAI amounts ranging from roughly $80,000 to $6 million, then executed multiple swaps into ETH. Analysts monitoring the address—cited in plain text as Arkham Intelligence and blockchain sleuths including ZachXBT—reported the DAI-to-ETH transactions and timestamped transfers visible on public block explorers.

Why does this ETH purchase matter to markets?

The accumulation matters because it coincides with Ether’s short‑term rally above $4,700, potentially increasing narrative-driven risk perception. The wallet’s earlier buys (4,863 ETH and 649 ETH in July) and a recent $8M Solana purchase show an active trading pattern that can influence sentiment among onchain observers.

What prior activity is linked to this wallet?

The wallet has a documented history of large, concentrated buys across tokens. In July it bought a combined ~5,512 ETH and more recently purchased roughly $8 million in Solana (SOL). Security researchers previously associated the address with a social‑engineering campaign estimated at $330M+ in victim losses, according to ZachXBT’s public analysis in May.

Frequently Asked Questions

Is this wallet confirmed to be the Coinbase hacker?

Chain analysis links transaction patterns to wallets tied to the Coinbase social‑engineering campaign, but formal attribution remains a matter for investigators. Public onchain indicators and investigative reporting have repeatedly flagged the address as connected to the broader scheme.

How much did the wallet spend to buy 3,976 ETH?

The purchase used 18.911 million DAI to acquire 3,976 ETH, valuing the trade at approximately $18.9 million based on the ~$4,756 per‑token execution price.

Can onchain tracking prevent such thefts?

Onchain tracking improves transparency and helps trace funds after the fact, but it does not prevent social‑engineering attacks. Security analysts advocate stronger user protections, improved exchange KYC and quicker incident response to limit impact.

Key Takeaways

• Significant buy: The wallet purchased 3,976 ETH (~$18.9M) using 18.911M DAI.
• Pattern of activity: Prior buys included >5,500 ETH in July and ~$8M in SOL more recently.
• Onchain evidence: Analysts such as Arkham Intelligence and ZachXBT publicly tracked transfers and consolidation behavior.

Conclusion

The wallet tied to a major Coinbase social‑engineering campaign has continued to accumulate Ether, adding 3,976 ETH (~$18.9M) amid a price surge above $4,700. Continued monitoring by onchain analysts and reporting from security researchers will be key to understanding subsequent movement and market impact.