Hacker-linked wallets buy 6,454.7 ETH with DAI in same-day trades, Ember says

One address tied to stolen Coinbase user funds bought 4,049.7 ETH at about $1,822, while another spent 4.34 million DAI to acquire 2,405 ETH at about $1,804.

ETH
DAI

Summary

Two hacker-linked addresses bought a combined 6,454.7 ETH with DAI in same-day transactions, on-chain analyst Ember said. One wallet tied to stolen Coinbase user funds spent 7.378 million DAI to purchase 4,049.7 ETH at about $1,822. A second address spent 4.34 million DAI to buy 2,405 ETH at about $1,804 after previously selling 4,978 ETH at $3,273 for 16.294 million DAI. Ember had identified that address as having received ETH from Tornado Cash in November, underscoring how public blockchain records can reveal trading activity linked to hacked funds and mixer-related transfers.

Terms & Concepts
  • Tornado Cash: A crypto mixer designed to obscure the trail of blockchain transactions.
  • DAI: A dollar-pegged stablecoin commonly used to trade and move value on crypto markets.
  • on-chain analyst: A researcher who studies public blockchain data to track wallet activity and fund flows.