According to PeckShieldAlert, an address closely associated with the threat actor responsible for stealing over $300 million from Coinbase users has swapped 8,775 ETH for 23 million DAI and transferred the funds to a new address (0x5202...7a81) [source: PeckShieldAlert Twitter]. This large-scale conversion from Ethereum to DAI suggests an attempt to obfuscate funds and minimize volatility risk. Traders should closely monitor DAI and ETH liquidity, as sudden movements like these can affect market sentiment and short-term price stability, especially amid increased scrutiny on centralized exchanges and stablecoin flows.

According to @EmberCN, the hacker who stole funds from Coinbase users has continued to liquidate their holdings, selling 8,775 ETH for $23.23M DAI in the past two hours. Since 8 AM today, the hacker has moved a total of 26,347 ETH through THORChain and exchanged it for $68.18M DAI at an average price of $2,588 per ETH. The DAI from these sales is currently stored in two specific addresses. This large-scale sale has the potential to put significant downward pressure on Ethereum prices and could increase volatility across the broader crypto market as traders react to the rapid liquidation. Source: @EmberCN on Twitter.

According to PeckShieldAlert, the threat actor responsible for stealing over $300 million from Coinbase users through bribery of customer support has swapped 8,697 ETH for 22 million DAI. Additionally, another address tied to this hack, receiving 9,081 ETH from THORChain, has exchanged those funds for 23 million DAI. These large-scale Ethereum-to-DAI swaps, totaling over $45 million, could create significant short-term selling pressure on ETH, potentially impacting liquidity and price volatility across major DeFi trading pairs. The rapid conversion of ETH to stablecoins following high-profile hacks is a key indicator for traders to monitor for further potential market disruptions. (Source: PeckShieldAlert on Twitter, May 22, 2025)

According to Lookonchain, the hacker responsible for stealing over $300 million from Coinbase users recently sent a taunting message to ZachXBT and sold 8,698 ETH for $22.12 million DAI, as tracked by Etherscan (source: Lookonchain on Twitter, May 22, 2025; etherscan.io). This large-scale ETH-to-DAI transaction highlights significant sell pressure on Ethereum and potentially increased volatility in the DeFi sector. Traders should closely monitor ETH price action and on-chain flows for further liquidation events or market instability related to these stolen funds.

According to EmberCN, a hacker who previously stole funds from Coinbase users has transferred 17,778.7 ETH through THORChain in the past two hours, selling the assets for a total of $44.94 million in DAI at an average price of $2,528 per ETH (Source: EmberCN on Twitter, May 22, 2025). The most recent transaction saw the hacker moving 9,080.7 ETH and exchanging it for $22.82 million in DAI. This large-scale ETH liquidation may increase short-term selling pressure on Ethereum and could impact DAI liquidity and price stability. Traders should monitor ETH and DAI price volatility and be cautious of sudden large movements, as continued hacker activity could further affect both Ethereum and stablecoin markets.

According to @kwok_phil, the recent Coinbase hack exposed sensitive user data including personal names, numbers, and home addresses, underscoring critical security vulnerabilities in centralized crypto exchanges (source: Twitter/@kwok_phil, May 21, 2025). During a previous Consensus fireside chat, Ripple CTO David Schwartz (@JoelKatz) demonstrated how the XRP Ledger's design mitigates such privacy risks by minimizing personal data exposure on-chain. For traders, this incident increases attention on decentralized blockchain solutions like XRP Ledger, which may gain momentum as users and investors seek safer alternatives. Monitoring XRP trading volumes and price action is recommended as market sentiment shifts toward privacy-focused protocols.

According to Evan (@StockMKTNewz) and Bloomberg, Coinbase ($COIN) hackers have reportedly had access to customer data since January 2025. This security breach raises serious concerns for crypto traders as it may affect user trust and platform stability. The news could trigger volatility in Coinbase stock and broader cryptocurrency market sentiment as traders reassess risk management and exchange security. Source: https://twitter.com/StockMKTNewz/status/1923093182369173844 and Bloomberg.

According to @AltcoinGordon, more than $45 million has been stolen from Coinbase users in the past week, highlighting a sharp rise in security breaches on the major crypto exchange. This significant loss raises urgent concerns for traders regarding the safety of assets held on centralized platforms. The incident may trigger increased volatility and outflows as traders seek safer storage options, potentially impacting crypto market sentiment and driving demand for decentralized solutions (Source: @AltcoinGordon on Twitter, May 8, 2025).