{"id":44554,"date":"2025-08-24T22:46:22","date_gmt":"2025-08-24T22:46:22","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=44554"},"modified":"2025-08-24T22:46:22","modified_gmt":"2025-08-24T22:46:22","slug":"hacker-acquires-38000-solana-using-stolen-funds","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/hacker-acquires-38000-solana-using-stolen-funds\/","title":{"rendered":"Hacker Acquires 38,000 Solana Using Stolen Funds"},"content":{"rendered":"\n

In a startling development, a hacker associated with the recent Coinbase security breach has made a significant investment by acquiring over 38,000 Solana<\/a> tokens, amounting to nearly $8 million.<\/p>\n

According to reports from blockchain analytics firm Ember CN, the hacker exchanged approximately 7.957 million DAI for USDC<\/a> before facilitating a cross-chain transfer to Solana, purchasing the tokens at an average rate of $208.<\/p>\n

<\/span>A Strategic Gambit<\/strong><\/span><\/h2>\n

This latest transaction isn’t the hacker’s first major move. Previously, in May, they liquidated 26,347 Ethereum, netting 68 million DAI at a price of $2,588 each.<\/p>\n

By July, they shifted back into Ethereum, repurchasing 5,513 ETH for 14.865 million DAI, paying an average of $2,696 per token.<\/p>\n

Such transactions indicate a planned and deliberate trading strategy, possibly foreshadowing future market maneuvers.<\/p>\n

\n

The hacker involved in the Coinbase breach has, in a recent strategic move, swapped 795.7 million DAI for USDC, subsequently transitioning to Solana to purchase 38,126 SOL with an average buy-in of $208.7.<\/a><\/p>\n

This individual had earlier:
\n1\ufe0f\u20e3 in May, sold 26,347 ETH for 68 million DAI, averaging $2,588.
\n2\ufe0f\u20e3 in July, reinvested 14.865 million DAI to acquire 5,513 ETH\u2026<\/a>pic.twitter.com\/GIPGqwUJYu<\/a><\/p>\n

\u2014 User Handle (@EmberCN) Date<\/a><\/p>\n<\/blockquote>\n

Market dynamics might have played a role in this latest undertaking. Solana’s valuation has surged by over 17% in the last month, although it remains about 25% shy of its all-time high of $295 recorded in January. Analysts speculate the token may have further upside potential if this upward trend continues.<\/p>\n

<\/span>Positive Technical Indicators Suggest Future Gains<\/span><\/h2>\n

Trader Ucan has pinpointed a bullish pattern in Solana’s market movement following a rounded bottom, indicating increased buying interest.<\/p>\n

Crucial resistance levels are identified at $215, acting as the first hurdle, followed by $227 signaling a breakout, and $242 marking the upper target for optimistic traders.<\/p>\n

With the upper channel limit estimated around $251, trader Ali suggests maintaining Solana until it reaches near $360, assuming bullish sentiments prevail.<\/p>\n

This hacker’s entry price of $208 could resonate well with these projections. The real question is whether the market will validate this investment as conditions unfold.<\/p>\n

At present, all eyes are on the hacker\u2019s latest investment. The effectiveness of this purchasing strategy\u2014and its potential implications for broader market movements\u2014will become clearer in the weeks to come.<\/p>\n

<\/span>The Aftermath of the Coinbase Breach<\/span><\/h2>\n

The initial Coinbase breach, occurring in May, compromised the accounts of approximately 70,000 users. Reports suggest that the hackers incentivized foreign customer-support contractors to divulge sensitive information between December 2024 and May 2025.<\/p>\n

The breach revealed critical user data, including full names, birth dates, addresses, phone numbers, masked bank account information, and government-issued ID scans.<\/p>\n

Coinbase publicly acknowledged the breach after being confronted with a $20 million ransom demand, which they opted not to pay.<\/p>\n

In response, CEO Brian Armstrong confirmed the organization would reimburse those impacted and also announced a $20 million reward for information leading to arrests.<\/p>\n

The company anticipates that costs associated with addressing the breach could reach upwards of $400 million as they work to enhance security and rebuild user trust.<\/p>\n

For now, industry focus remains trained on the hacker\u2019s latest activities, as the potential profitability of their Solana acquisition will be determined by market trends moving forward.<\/p>\n

Image credit: Pixabay. Chart data courtesy of TradingView.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In a startling development, a hacker associated with the recent Coinbase security breach has made a significant investment by acquiring over 38,000 Solana tokens, amounting to nearly $8 million. According to reports from blockchain analytics firm Ember CN, the hacker exchanged approximately 7.957 million DAI for USDC before facilitating a cross-chain transfer to Solana, purchasing […]<\/p>\n","protected":false},"author":14,"featured_media":44555,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Hacker Acquires 38,000 Solana Using Stolen Funds - Bitrabo","description":"In a startling development, a hacker associated with the recent Coinbase security breach has made a significant investment by acquiring over 38,000 Solana token"},"footnotes":""},"categories":[316],"tags":[504,1525,16052,568,15778,1213,1526],"class_list":["post-44554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto","tag-hacker","tag-loot","tag-moves","tag-purchased","tag-solana","tag-stolen"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/44554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=44554"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/44554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/44555"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=44554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=44554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=44554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}