AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
_6ff029a61766633234293.png?format=webp&width=1186&height=250)
Coinbase User Funds Hacker Spends 7.957 Million DAI to Buy 38,126 SOL
ByAinvest
Sunday, Aug 24, 2025 12:09 am ET1min read
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/
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet