Hackers' Wallets Lose $5,5 Million Selling and Buying Back ETH
- Hackers sold 8.638 ETH in liquidation
- They bought back 7.816 ETH at a higher price
- Estimated loss: US$5,5 million
On-chain analysis indicates that wallets identified as linked to hackers engaged in ETH sales and repurchases during the recent market crash—and ended up with losses. Lookonchain reports that these wallets sold 8.638 ETH at $3.764 each, moving approximately $32,5 million, and then repurchased 7.816 ETH at $4.159, resulting in an estimated loss of $5,5 million.
The moves occurred during an estimated $10 billion selloff triggered by new US tariffs on China, a time when cryptocurrency prices plunged before recovering. As volatility subsided, Arkham-labeled addresses were tracked and shared by Lookonchain as evidence of the reversal trades.
During the crash, hackers panic-sold 8,638 $ ETH ($32.5M) at $3,764, losing $5.5M!
After the market rebounded, they bought back 7,816 $ ETH ($32.5M) at a higher price of $4,159.
While Lookonchain attributes the addresses to the “hackers” group, it was not possible to identify the operators behind these wallets — the labels were provided by Arkham Intelligence.
The capitulation and recovery occurred amid what is already considered one of the largest deleveraging events in the cryptocurrency sector. On that critical date, the total market value fell by more than 9%, triggering liquidations that exceeded $10 billion in open positions. Some estimates suggest that the actual amount of forced liquidations may have exceeded $19 billion.
This case reinforces the power of on-chain analytics to reveal behaviors that are largely invisible in conventional markets—whether to ordinary investors, institutions, or blockchain security teams.
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.
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