Hacker Converts Stolen USDC to ETH and Launders via Tornado Cash
According to @EmberCN, a hacker who stole 49.5 million USDC from Infini in February last year has demonstrated advanced trading skills. The hacker converted stolen USDC to ETH, sold ETH for DAI at an average price of $3,762 in August, and recently bought back ETH with DAI at $2,109 per ETH. The hacker then laundered 15,470 ETH, worth approximately $32.58 million, through Tornado Cash.
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In the ever-evolving world of cryptocurrency trading, a fascinating case has emerged highlighting the sophisticated market timing skills of certain individuals, even those operating on the fringes. According to EmberCN, a hacker who stole 49.5 million USDC from Infini in February last year demonstrated remarkable trading acumen. This individual sold ETH at an average price of $3,762 in August last year, converting to DAI, and then repurchased ETH at $2,109 just seven hours ago, before laundering 15,470 ETH valued at $32.58 million through Tornado. This sequence of moves not only underscores potential profits from strategic buying and selling but also raises questions about market prediction in volatile crypto environments. Traders can learn from such patterns, focusing on key support and resistance levels around these price points to inform their own ETH strategies.
Analyzing the Hacker's ETH Trading Strategy and Market Timing
Diving deeper into the trading details, the hacker's decision to sell ETH at $3,762 last August came during a period of relative market highs for Ethereum. Historical data shows ETH was experiencing upward momentum, potentially driven by broader crypto market rallies and developments in decentralized finance. By swapping to DAI, a stablecoin, the hacker effectively locked in gains and mitigated downside risk amid impending volatility. Fast forward to today, February 9, 2026, the repurchase at $2,109 represents a calculated re-entry at a lower price point, capitalizing on what appears to be a market dip. This buy-low, sell-high approach could have yielded substantial returns, with the price differential suggesting over 40% potential profit on the ETH position alone, excluding any laundering fees. For active traders, this highlights the importance of monitoring on-chain metrics, such as transaction volumes and wallet activities, to spot similar opportunities. Ethereum's trading pairs like ETH/USDT or ETH/BTC should be watched closely, especially around the $2,000-$2,500 support zone, where buying pressure often builds during corrections.
Implications for Current ETH Market Sentiment and Trading Opportunities
The laundering of 15,470 ETH through Tornado adds another layer to this narrative, emphasizing privacy tools in crypto trading. While the exact trading volume involved isn't specified, such large movements can influence market liquidity, particularly if tied to whale activities. In the broader context, ETH has shown resilience, with recent price action testing key levels. Traders might consider this as a signal for bullish reversals, especially if correlated with Bitcoin's movements, where ETH often follows BTC's lead. Institutional flows into Ethereum-based assets, including ETFs and staking protocols, could further support upward trajectories. For those eyeing trading opportunities, resistance at $3,000 remains critical, with a breakout potentially leading to new highs. Conversely, failure to hold $2,000 might signal deeper corrections, advising caution with leveraged positions. Integrating tools like moving averages—such as the 50-day MA around $2,500—can help validate entry points, drawing from the hacker's apparent success in timing the market bottom.
Expanding on cross-market correlations, this event ties into stock market dynamics, where tech-heavy indices like the Nasdaq often mirror crypto sentiment. If AI-driven innovations boost blockchain adoption, tokens like ETH could see increased demand, creating trading synergies. For instance, arbitrage opportunities between ETH and AI-related altcoins might emerge, with on-chain data revealing rising transaction fees as indicators of network activity. Traders should prioritize risk management, setting stop-losses below recent lows like $2,000, while aiming for take-profit targets near previous highs of $3,762. This case also underscores the role of stablecoins like DAI in portfolio hedging, allowing traders to weather volatility without exiting the ecosystem entirely. Overall, while the origins are illicit, the trading mechanics offer valuable insights into market cycles, encouraging data-driven decisions over emotional trading. As Ethereum evolves with upgrades like potential layer-2 scaling, staying informed on such real-world examples can sharpen one's edge in crypto markets.
To wrap up, this hacker's maneuvers exemplify how precise timing and asset swaps can maximize returns in cryptocurrency trading. With ETH's 24-hour trading volumes often exceeding billions, even small percentage gains on large holdings translate to significant profits. Aspiring traders might simulate similar strategies using historical charts, focusing on volume spikes and price reversals. Remember, while past performance isn't indicative of future results, analyzing these patterns fosters better market understanding. For those interested in deeper dives, exploring verified blockchain explorers can provide timestamped transaction details, enhancing analytical accuracy without relying on unverified sources.
余烬
@EmberCNAnalyst about On-chain Analysis