Ethereum’s Unexpected Ally: Hacker Channels $40 Million Amid 25% Price Crash

Quick Summary:

According to Bloomberg, a wallet linked to a major cryptocurrency heist two years ago swapped $39.75 million worth of the stablecoin DAI to scoop up 16,892 Ethereum (ETH) as the second-largest cryptocurrency plummeted by as much as 23% on Monday.

Germany and Hong Kong also experienced outflows of $12 million and $27 million, respectively.

According to the researcher, venture capital firm Paradigm unloaded 46,000 ETH tokens worth approximately $138 million at $3,000.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: HungaryCanadaGermanyHong KongSwitzerlandUnited States

Topics: Ethereum price Ethereum ETFs DeFi Ethusd Ethereum price performance Crypto Ethereum ETHUSDT Cryptocurrency ETH Crypto news Ethereum etf Ethereum news

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-06 @ 08:30:12 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21953994

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Official Website: bitcoinist.com

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News Last Updated: 13 hours ago

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