Mysterious Hacker Accumulates Ethereum Post-Coinbase Breach

Hacker Bribes Employee to Access 97,000 Coinbase Accounts

The hacker orchestrated a sophisticated scheme impacting over 97,000 Coinbase users by bribing a customer support employee. Recent activities include the purchase of Ethereum to maintain anonymity and profit from volatility. These moves demonstrate a planned and strategic approach by the hacker, indicative of expertise rather than impulsivity.

The hacker’s use of THORChain to swap ETH for DAI indicates tactical skill and a carefully crafted plan for obfuscation.

Ethereum Acquisition Avoids Market Disruption

Ethereum’s market dynamics are affected by this unknown trader, particularly with substantial acquisitions like the recent 649.62 ETH purchase at $3,561 per unit. The hacker’s actions have not triggered significant market slippage, and Ethereum’s liquidity depth is highlighted. While there are no regulatory responses or widespread panic, the community remains alert to potential further actions by the hacker.

Comparison to NiceHash Hack Highlights Liquidity Use

Similarities to past exploits, such as the NiceHash hack, are noted where Ethereum was used due to its deep liquidity. These incidents often brought about market volatility, though current data shows ETH resilience. Projections suggest that the current market impact is contained, with expectations that any large liquidations could provoke short-term volatility. Unlike previous historic events, the current moves remain focused without causing broader market stress.