Coinbase Hacker Bought Solana in $8M Move After ETH Trades

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17 hours ago

Coinbase Hacker Bought Solana After Huge Ethereum Buys Spark Market Co

The Coinbase hacker bought Solana worth nearly $8 million in just two hours, shocking the crypto community once again.

This Coinbase hacker, who earlier stole more than $300 million from Coinbase users, is still making big moves despite being under constant watch.

Source: Lookonchain

As per the Lookonchain Data , his latest buy included 38,126 SOL tokens at a price of $209 each, worth around $7.95 million.

Hacker’s Bold Solana Purchase

The hacker’s decision to purchase SOL has sparked many questions in the crypto world. The most common question is: how can he buy and sell so freely when his wallet address is already under surveillance ?

The movement of such huge funds suggests that certain exchanges or decentralized platforms may be enabling these trades without strict checks.

This trade also shows the growing role of SOL in the market. The transaction was completed with 0.4 seconds of finality at 65,000 transactions per second (TPS).

Many users pointed out that this is both impressive and concerning. While Solana proves itself as one of the fastest networks, it also highlights how easily stolen money can be moved.

A Pattern of Strategic Moves

The Coinbase hacker bought SOL after previously making several large Ethereum trades.

  • On July 20, he bought 649.62 ETH worth $2.31 million at $3,561.

  • Earlier, on July 7, he bought 4,863 ETH worth $12.55 million at $2,581.

  • Interestingly, just two months ago, he had sold 26,762 ETH for $69.25 million at $2,588.

Source: X (Previously Twitter)

These moves show a mix of risk-taking and smart positioning. By shifting between ETH and SOL, the phisher seems to be betting on major tokens with strong liquidity.

Some experts believe converting stolen funds into this altcoin is a signal of confidence in its long-term growth.

What This Means for the Market?

Each time the Coinbase hacker bought Solana or Ethereum, it has attracted the public eye. The openness of blockchain provides a platform where anyone can monitor his wallet.

Yet, this doesn't prevent him from making trades with millions of dollars.

This puts the market in a strange spot, both worried and curious at the same time.

The latest purchase also shows an important truth about the network. Solana is very fast and efficient, but that same speed makes it easy for stolen money to move through without being noticed.

To some, this is an issue; to others, it merely indicates the potency of decentralized systems.

The news does not have much impact on the price of SOL token, as it is currently trading at $207.58 with an increase of 2.64% in the last 24 hours, while the trading volume has dropped by 46.23% to reach $6.98 billion.

Conclusion

The story of the Coinbase hacker who bought SOL, has left many in wonder about blockchain security and liquidity.

With millions trading hands on Ethereum and Solana every second, the hacker's move is testament to both the opportunity and danger of crypto markets in the modern era.

Also read: Xenea Wallet Quiz Answer 25 August 2025: Play and Earn $Gems

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