The recent hack of crypto exchange Coinbase continues to attract attention due to the hacker's new actions, consolidating stolen funds.
Coinbase Hacker Acquires $2.31M in Ethereum
According to on-chain data, the Coinbase hacker acquired 649.62 $ETH, worth approximately $2.31M. This transaction indicates the hacker's active attempts to move and consolidate stolen funds, as Ethereum's price at the time was nearly $3,561.
Malicious Transactions of the Hacker
Data regarding the hacker's wallet activities also shows several malicious transactions involving $DAI stablecoins and $ETH coins. These transfers might indicate plans for obfuscation or laundering. In particular, 649.619 $ETH was transferred from the wallet labeled "0x772…F8" to the hacker's address "0xB57."
Security Challenges of Centralized Crypto Exchanges
Shortly thereafter, the respective wallet transacted 2.313M $DAI via CoW Protocol, followed by a reverse transfer returning 649.605 $ETH to "0x772…F8," indicating internal cycling of funds to complicate tracking. This situation highlights the vulnerabilities and security challenges faced by centralized crypto exchanges and the necessity for implementing more robust security measures.
Current developments surrounding the Coinbase hack emphasize the importance of enhancing security within the crypto industry, particularly for centralized platforms.
