Hacker Loses $6.9 Million in ETH Trading Blunder

In a surprising turn of events, a wallet address suspected to belong to a hacker made a significant trading blunder, resulting in a loss of approximately $6.9 million. The wallet, identified as 0x17E0e39da162e17aFC566f835Fe41a5DF56E4EA5, received 12,282 ETH from protocols THORChain and Chainflip around three months ago. At the time, the total value of the ETH was approximately $23.7 million, with each ETH priced at around $1,932. The hacker then sold the entire amount at this price.

In a move that defied typical hacker behavior, the same wallet recently repurchased 4,958 ETH for around $12.37 million, this time at a higher price of $2,495 per ETH. This decision, made just 30 minutes ago on July 1, 2025, is unusual because hackers generally avoid re-entering the market, especially at a worse price. The hacker's decision to buy back ETH at a higher price led to a significant loss, highlighting the risks associated with trading without a clear strategy.

The financial implications of this trading blunder are clear. The hacker initially sold 12,282 ETH at $1,932 per ETH, totaling $23.7 million. Later, the hacker bought back 4,958 ETH at $2,495 per ETH, spending $12.37 million. This resulted in a paper loss of approximately $6.9 million. The reasons behind this decision remain unclear, but it underscores the fact that even those with significant financial resources can make costly trading mistakes.

This incident serves as a reminder that on-chain data can reveal costly mistakes, even for hackers. The wallet's activities were tracked and analyzed, showing that no wallet is invisible, not even one tied to hacks. The hacker's decision to sell low and buy high is a common mistake that many traders fall into, highlighting the importance of having a well-thought-out trading strategy. Big money does not guarantee smart decisions, and this incident is a stark reminder of the risks involved in trading without a clear plan.