A recent operation by hackers involving the cryptocurrency ETH led to impressive losses of $6.9 million. Let's analyze the details of this story.
Unusual Trading Decisions by Hackers
The wallet with address 0x17E0e39da162e17aFC566f835Fe41a5DF56E4EA5, suspected to belong to hackers, made an unexpected trading move. Three months ago, this wallet received 12,282 ETH, worth about $23.7 million from THORChain and Chainflip protocols and sold the entire amount at around $1,932 per ETH.
Significant Financial Losses
Fast forward to just 30 minutes ago, the same wallet decided to re-enter the market, buying back 4,958 ETH for $12.37 million at a price of $2,495 per ETH. This trade led to a loss of approximately $6.9 million, as the hackers purchased less than half the ETH sold previously, and at a higher price.
Lessons from a Hacker's Loss
Several lessons can be taken from this situation:
- On-chain activity reveals everything: no wallet is truly anonymous, even if linked to hack activities. - Even hackers make bad trades: selling low and buying high is a common mistake many traders face. - Trading without a strategy is risky: large sums of money do not ensure smart decisions.
The situation with the hackers' loss highlights that even in the world of cryptocurrency, mistakes can be costly, and the transparency of blockchain allows for the revelation of all financial operation details.
