The Costly Mistakes of the $300 Million Coinbase Hacker
In the world of cryptocurrency, even hackers aren’t immune to financial missteps. The individual behind the notorious $300 million Coinbase exploit is making headlines again, but this time for losing nearly $1 million in just two days. On-chain analysis has revealed poor trading moves involving Ethereum (ETH), highlighting the volatile nature of the cryptocurrency market.
Hacker’s Ethereum Gamble
On September 13, the hacker purchased 3,976 ETH worth $18.9 million at an average price of $4,756 per token. Just two days later, they liquidated the holdings at a loss, selling for $17.98 million at $4,522 per token, according to data by Arkham Intelligence. This rapid turnaround left the hacker with an estimated $932,000 loss. The timing of the sale coincided with a broader market downturn, during which Ethereum experienced a 2.6% drop in 24 hours, trading at $4,493 at press time.
Diversifying Stolen Funds
Since the Coinbase breach earlier in 2025, the hacker has actively diversified stolen assets. From purchasing 38,126 SOL (Solana) worth $7.95 million to acquiring 649.62 ETH in July, their strategy has involved both gains and losses. Funds have reportedly been routed through decentralized exchanges to avoid detection, a common tactic among cybercriminals aiming to obscure their traces.
The Coinbase Breach: A Timeline
The hacker’s activities trace back to a major security breach at Coinbase earlier this year, where bribes and insider access led to the exposure of customer data. Following the breach, the attackers demanded $20 million to keep the compromised information private. Coinbase refused to pay, instead focusing on enhancing security, reimbursing affected users, and offering a matching $20 million bounty to recover the stolen funds. The total losses from this breach are estimated between $180 million and $400 million.
What This Means for Crypto Users
This incident serves as a stark reminder of the risks associated with cryptocurrency investments and exchanges. While decentralized platforms provide freedom and anonymity, they also expose investors to potential security vulnerabilities. To protect your assets, consider using trusted platforms like eToro, a multi-asset investment platform known for transparent pricing and advanced security features. With eToro, you can trade cryptocurrencies, stocks, and more with peace of mind.
Final Thoughts
As the crypto market continues to evolve, so do the risks and opportunities. Whether you’re an investor or merely interested in the latest tech trends, staying informed about industry developments is crucial. The Coinbase hacker’s losses underscore the importance of caution and strategy in cryptocurrency trading.
