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Crypto Scandal: Coinbase Hacker Expands Ethereum Holdings with Stolen Funds

A hacker linked to a $300 million breach at Coinbase has recently acquired an additional 3,976 Ether for approximately $18.9 million.

The hacker made this purchase using stolen funds, specifically 18.911 million DAI, which is a stablecoin.

This transaction represents the latest in a series of high-profile purchases the hacker has made since the exploit, indicating a methodical strategy to launder the stolen assets.

Various blockchain analysts have observed multiple large transactions from the hacker's wallet, including diversification into different cryptocurrencies.

Coinbase has faced criticism for its handling of the security breach, with accusations of inadequate responses to vulnerabilities and scams affecting investors.

In response, the company has implemented several measures including a substantial $20 million reward for information leading to the hacker's capture.

Despite Coinbase's increased security investments and communication efforts, the identity of the hacker remains unknown.

The wallet associated with this hacking incident is a remnant of Coinbase's 2025 security breach, which exposed customer data but not sensitive details like passwords.

As investigations continue, the hacker's ability to shift and diversify stolen funds poses a significant challenge for authorities.

The ongoing situation highlights the urgent need for enhanced security practices within the cryptocurrency exchange ecosystem.