Coinbase User Funds Hacker Spends 7.957 Million DAI to Buy 38,126 SOL

A hacker who stole funds from Coinbase users has purchased 38,126 SOL on Solana at an average price of $208.7. The hacker previously sold 26,347 ETH for 68.18 million DAI and repurchased 5,513 ETH for 14.865 million DAI in July. Today's purchase is the latest in a series of transactions involving the stolen funds.

A hacker who previously stole funds from Coinbase users has made another significant transaction. According to blockchain analytics, the hacker purchased 38,126 SOL tokens on the Solana blockchain at an average price of $208.7 per token. This latest acquisition follows a series of transactions involving the stolen funds, including the sale of 26,347 ETH for 68.18 million DAI and the repurchase of 5,513 ETH for 14.865 million DAI in July [1].

The hacker's activities indicate a sophisticated strategy to launder and repurpose the stolen funds. The purchase of SOL tokens on Solana, a blockchain known for its high transaction speeds and low fees, suggests the hacker is diversifying their holdings. This move comes as Ethereum's price has been volatile, with the token experiencing a 2% increase over the past 24 hours and a 17% rise over the past month [2].

The U.S. government has been actively recovering funds from the Uranium Finance hack, with a total of $31 million recovered so far. The recent inflow of $332,000 worth of Ethereum into a government-controlled wallet suggests that authorities are continuing their efforts to trace and seize the stolen cryptocurrencies [1].

The increasing accumulation of confiscated funds on government accounts indicates a systematic unification process before repayment efforts occur. The U.S. government now holds a significant crypto portfolio, with Ethereum being one of the major components. The recent Ethereum inflow contributes to the ever-expanding collection of confiscated digital assets that make up the larger total government holdings [1].

References:
[1] https://www.cryptopolitan.com/u-s-expands-ethereum-holdings-to-281m/
[2] https://www.cryptopolitan.com/u-s-expands-ethereum-holdings-to-281m/