Coinbase hacker returns with $12.5 mln ETH buy: Will security concerns affect Ethereum?

• Coinbase hacker pockets purchased 4,863 ETH for $12.5 million utilizing DAI at $2,569 per coin.
• SlowMist information exhibits over 5,900 stolen ETH nonetheless reside on Ethereum throughout 12,490 addresses.

The crypto business has grown considerably over the past decade, with the market cap exceeding $3.3 trillion.

Because the market grows, so do dangers and vulnerabilities related to the digital house, primarily arising from unethical hackers. 

Amidst this rising menace, Ethereum [ETH] has change into significantly susceptible and hackers’ favourite. 

Coinbase hacker resurfaces with a $12.5M ETH purchase

A Coinbase exploit pockets is again in motion. In line with Onchain Lens, the hacker who beforehand siphoned funds from a Coinbase person used $12.5 million in DAI to purchase 4,863 ETH at a worth of $2,569 per token.

Even after this acquisition, the hacker nonetheless holds $45.36 million in DAI throughout two totally different wallets and is probably going eyeing the acquisition of extra ETH. 

However this isn’t the primary time this pockets moved measurement

Roughly two months in the past, this identical hacker deal with had moved ETH, acquired by way of THORChain.

In that episode, 26,347 ETH had been bought for $68.18 million in DAI at a median worth of $2,587.

The brand new buy seems to be a part of a broader try and rotate stablecoins again into ETH, maybe to journey a possible upside or muddy monitoring trails.

Ethereum continues to be the most important goal

Surprisingly, the Coinbase hacker shouldn’t be an remoted case, as Ethereum has suffered essentially the most safety incidents in 2025.

In line with the newest report from SlowMist, Ethereum remained essentially the most hit ecosystem, with losses reaching $38.9 million. 

Supply: SlowMist

Actually, the report confirmed that 84.45% of all ETH bridged to BTC—over 432,748 ETH price $1.21 billion—handed by way of THORChain.

Many of those tokens had been traced again to hacks. To make issues worse, over 5,900 ETH stolen nonetheless reside on Ethereum itself, scattered throughout 12,490 wallets.

Supply: SlowMist

In one of the crucial high-profile incidents of H1 2025, Lazarus Group stole roughly 500,000 ETH (price $1.46 billion) from Bybit.

After stealing the funds, the group break up the funds and shared them throughout a number of wallets. 

With the Ethereum ecosystem holding varied wallets of looted funds, it displays a safety failure inside the blockchain. It is a major concern not just for exchanges but in addition for particular person holders. 

Regardless of all of it, ETH finds demand once more

Having mentioned that, ETH doesn’t look like collapsing underneath the burden of those safety issues, a minimum of not but. Nonetheless, the broader market sentiment is skittish.

Supply: Defillama

In line with DeFiLlama, Internet Inflows for ETH on the seventh of July fell to -$900 million, a stark distinction to the earlier days of impartial or optimistic flows.

Such sharp outflows sometimes point out panic exits or profit-taking, however may also precede a worth rebound if promote stress dries up.

On the time of reporting, Ethereum was buying and selling at $2,573, marking a 2.3% each day acquire. This means that if excellent news continues to emerge, ETH may also expertise additional good points on its worth charts. 

Except a transparent bullish catalyst emerges, ETH is prone to proceed buying and selling between $2,400 and $2,600. That mentioned, ought to sentiment enhance, the subsequent resistance lies close to $2,780.