Coinbase hacker returns with $12.5 mln ETH buy: Will security concerns affect Ethereum?

• Coinbase hacker wallet bought 4,863 ETH for $ 12.5 million using DAI for $ 2,569 per coin.
• The Slowmist data shows that more than 5,900 stolen ETHs are still on Ethereum at 12,490 addresses.

The crypto industry has increased significantly in the last decade, with the market ceiling exceeding $ 3.3 trillion.

Both the market grows and the risks and vulnerability associated with digital space, mainly from unethical hackers.

In the middle of this growing threat, Ethereum [ETH] has become particularly vulnerable and popular hackers.

Coinbase Hacker Resurfaces with the purchase of ETH $ 12.5 million

The Coinbase Exploit wallet is back in action. According to onchain Lens, hacker who before siphone Funds from Coinbase used $ 12.5 million in DAI to buy 4,863 ETH for $ 2,569 for the token.

Even after this acquisition, the hacker still holds $ 45.36 million in DAI across two different wallets and is likely to look at more ETH.

But this is not the first time this wallet moved in size

About two months ago, the same hacker address moved ETH, received through Thorchain.

In this episode, 26,347 ETH was sold for $ 68.18 million in DAI at an average price of $ 2,587.

It seems that the new purchase is part of a wider attempt to turn stablecoins back to ETH, maybe driving potential or muddy tracking trails.

Ethereum is still the biggest goal

Hacker Coinbase is not an isolated case, because Ethereum suffered the most security incidents in 2025.

According to the latest report from SlowmistThe Ethereum remained the most hit ecosystem, with losses reaching $ 38.9 million.

In fact, the report showed that 84.45% of all ETHs overcame BTC – over 432 748 ETH worth $ 1.21 billion – passes through Thorchain.

Many of these chips have been traced back to the hack. To make matters worse, more than 5,900 stolen ETHs are still based on Ethereum itself, over 12,490 wallets.

In one of the most important H1 2025 incidents, the Lazarus Group stole approximately 500,000 ETH (worth $ 1.46 billion) from Bybita.

After stealing the funds, the group divided the funds and shared them on more wallets.

Since the Ethereum ecosystem holds different wallets of lift funds, it reflects the failure of safety in blockchain. These are primary concerns not only for stock exchanges, but also for individual holders.

Despite everything, ETH finds a demand again

It seems that ETH seems to decrease under the weight of these safety fears, at least not yet. Still, the wider market sentiment is Scottish.

According to Defillam, a clean influx for ETH on July 7 to -900 million dollars, which is a sharp contrast to previous days of neutral or positive flows.

Such sharp outflows usually indicate panic exits or profitable education, but may also prevent the price of bouncing if the sale of pressure dries.

At the time of reporting, Ethereum traded for $ 2,573, which meant a daily profit of 2.3%. This suggests that if good news occurs, ETH will also experience other profits from the price charts.

If a clear bull catalyst does not appear, ETH is likely to continue trading between $ 2,400 and $ 2,600. This means that the sentiment should improve, another resistance lies nearly $ 2,780.