Hacker panic-sells 9,240 Ether during market crash, incurring $4.56M loss
Key Takeaways
- A hacker sold 9,240 Ether amidst a market crash.
- The move resulted in a $4.56 million loss.
A hacker panic-sold 9,240 Ether during today’s market crash, resulting in a $4.56 million loss on the transaction. The perpetrator, believed to have illicitly obtained crypto assets through recent exploits, executed the large-scale sale amid broader market volatility affecting Ethereum and other digital assets.
Hackers linked to major exchange thefts have demonstrated reactive trading patterns during recent market downturns, with some observed rebuying Ethereum after initial panic sales during price dips.
These entities have repeatedly engaged in swing trading Ethereum, attempting to capitalize on price rebounds following exploit-related asset movements. The trading behavior highlights ongoing challenges as stolen funds continue circulating through decentralized markets.
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.
You may also like
Vitalik Buterin Urges ZK and FHE Developers to Share Efficiency Ratios
Quick Take Summary is AI generated, newsroom reviewed. Vitalik Buterin wants ZK/FHE developers to report an 'efficiency ratio'. The ratio is cryptographic computation time compared to raw computation time. This metric is more hardware-independent and shows the cost of adding cryptographic security. The call highlights the need for a common performance language across cryptography projects.References I wish more ZK and FHE people would give their overhead as a ratio (time to compute in-cryptography vs time
A look at the key developments from the afternoon session on October 18th
TAO falls below $400
Trending news
MoreCrypto prices
More
