Hacker affiliated with Radiant Capital unexpectedly purchases Ethereum (ETH) valued at approximately $23.7 million, having earlier sold it for a mere $4,700.
Hacker's Continued Activity in Ethereum Market Stirs Debate
A mysterious hacker, responsible for the $53 million theft from Radiant Capital last year, has once again made headlines in the Ethereum trading landscape. The hacker's aggressive buying and selling transactions have caught the attention of traders who track large addresses, with their latest purchase worth over $23.7 million.
In a recent trade, the hacker bought 5,475 ETH at an average price of around $4,330, a move that has been closely observed by the crypto community. This transaction occurred within the past hour, adding to the hacker's wallet, which now holds an estimated 13,300 ETH.
The hacker's activity has been strategic, with each large buy or sell order temporarily influencing Ethereum sentiment. Immediately after the exploit, the hacker bought 21,900 ETH for long-term storage at $2,420. On August 20th, the hacker bought 4,914 ETH at $4,167, and a week ago, the hacker sold ETH at an average price of $4,726.
Ethereum has been fluctuating between $4,000 and $5,000 in recent weeks, providing opportunities for the hacker to exploit these swings by repeatedly buying low and selling high. The hacker's portfolio, including stablecoins, is currently valued at over $104 million.
Some traders see the hacker's activity as a sign of confidence in Ethereum's resilience, while others warn that it highlights the challenges regulatory bodies face in preventing illegal funds from circulating in crypto markets. The entity that purchased over 23.7 million DAI for 5,475 ETH remains unnamed, but further information about their identifiable past activities can be found through blockchain explorers like Etherscan and analytics platforms such as Nansen or Dune Analytics.
The hacker's latest trade has added fuel to the ongoing debate, with some arguing that the hacker's success demonstrates how experienced hackers can continue to generate significant profits long after an attack. The hacker's activity continues to make headlines, as the crypto community closely watches to see what moves the hacker will make next in Ethereum's volatile trading landscape.
A few days later, on August 26th, the hacker sold 3,931 ETH at $4,726, earning 43.9 million DAI. On August 14th, the hacker sold 9,631 ETH at an average price of $4,562. The hacker seems to be actively managing their assets since the theft, demonstrating a level of sophistication that has kept them one step ahead of regulators and law enforcement.
As the hacker's activity continues to make waves in the Ethereum market, the crypto community awaits the next move from this surprisingly successful actor in the volatile trading landscape.
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