Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Hacker Sinks $6.9M in Crypto Trading Blunder

Hacker Sinks $6.9M in Crypto Trading Blunder

BitgetBitget2025/07/01 11:08
By:Bitget
  • Hackers received 12,282 ETH via THORChain/Chainflip three months ago.
  • Sold at $1,932 then repurchased at $2,495—locking in a $6.9M loss.
  • Shows on-chain data can reveal costly mistakes, even for hackers.

Wallet address 0x17E0e39da162e17aFC566f835Fe41a5DF56E4EA5—suspected to belong to a hacker—made a costly trading decision. About three months ago, this wallet received 12,282  ETH , worth around $23.7 million at the time, from protocols THORChain and Chainflip. The entire amount was sold at a price of approximately $1,932 per ETH.

Betting Against the Usual Hacker Playbook

Fast forward to just 30 minutes ago on July 1, 2025—the same wallet made a surprising move. It bought back 4,958 ETH for around $12.37 million, this time at a significantly higher price of $2,495 per ETH.

This kind of move is quite unusual. Hackers typically avoid re-entering the market , especially at a worse price. But in this case, the wallet chose to jump back in, possibly expecting ETH to climb even higher.

Math Doesn’t Lie: $6.9M Red Ink

Let’s simplify the numbers:

Transaction ETH Amount Price per ETH USD Value
Sold 12,282 $1,932 $23.7M
Bought 4,958 $2,495 $12.37M

This means the hacker bought back less than half the ETH sold—at a higher price—leading to a paper loss of approximately $6.9 million. Whether this was a panic move or a miscalculated strategy remains unknown.

Lessons from a Hacker’s Loss

  • On-chain activity reveals everything: No wallet is invisible, not even one tied to hacks.
  • Even hackers make bad trades: Selling low and buying high is a mistake many fall into.
  • Trading without a strategy is risky: Big money doesn’t guarantee smart decisions.

Read also:

  • Polkadot Hits $146M Volume, Tezos Rises, and With Qubetics Live on MEXC and LBank, Is it the Best Crypto Under $1 to Watch?
  • Bitcoin to Skyrocket: Multi‑Year Channel Breakout?
  • SOL Rockets to $160 as U.S. Debuts First Solana Staked ETF
  • Trump‑Backed American Bitcoin Raises $215M to Buy BTC
  • Hacker Sinks $6.9M in Crypto Trading Blunder
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Boxing champion Andrew Tate's "Going to Zero": How did he lose $720,000 on Hyperliquid?

Andrew Tate hardly engages in risk management and tends to re-enter losing trades with higher leverage.

ForesightNews 速递2025/11/22 17:53
Boxing champion Andrew Tate's "Going to Zero": How did he lose $720,000 on Hyperliquid?

New Beginnings in the Darkest Hour: Is the Dawn of Bitcoin in 2026 Already Visible?

Risk assets are expected to perform strongly in 2026, and bitcoin is likely to strengthen as well.

Chaincatcher2025/11/22 17:30
New Beginnings in the Darkest Hour: Is the Dawn of Bitcoin in 2026 Already Visible?

Ethereum at a Crossroads: Quantum Threat Approaches, Wall Street Capital Exerts Dual Pressure

This battle between technology and human nature will determine whether Ethereum ultimately becomes the fintech backend for Wall Street or serves as the public infrastructure for digital civilization.

Chaincatcher2025/11/22 17:30
Ethereum at a Crossroads: Quantum Threat Approaches, Wall Street Capital Exerts Dual Pressure