JAKARTA – A hacker labelled as the “Coinbase hacker” by blockchain security analysts was reported to have purchased Solana (SOL) cryptocurrency worth USD 8 million on Sunday (24/8).
The information was disclosed by on-chain analysis platform Lookonchain.
According to the report, the hacker first converted DAI into USDC before moving it onto the Solana network.
He then purchased 38,126 Solana tokens at around USD 209 per coin. At present, Solana is trading at USD 202.15, meaning the transaction is still showing a paper loss.
Citing Cointelegraph, Monday (25/8), the digital wallet used has been tagged by Arkham Intelligence as belonging to the “Coinbase hacker” and linked to the theft of more than USD 300 million from Coinbase users.
The hacker’s activity has been tracked for the past two months, when he sold 26,762 ethereum worth USD 69.25 million. In July 2024, the same wallet was also recorded buying 4,863 ETH worth USD 12.55 million and 649 ETH worth USD 2.3 million.
Meanwhile, on-chain analyst ZachXBT estimated in May that total losses of Coinbase users from social engineering schemes reached USD 330 million.
He said this figure reflects increasingly sophisticated attack strategies targeting cryptocurrency holders.
The Coinbase hacker is not the only party actively trading stolen funds. Lookonchain also reported activity from another wallet linked to the Radiant Capital hack.
The wallet was recorded buying 4,913 ether last week, before selling 4,131 ether with a profit of around USD 2.7 million.
Radiant Capital itself suffered a major hack in October 2024, when the cross-chain lending protocol lost about USD 58 million on the BNB Chain and Arbitrum networks.
As of mid-August 2025, the Radiant hacker is still known to be holding about 21,957 ETH worth USD 103 million. (DK/ZH)
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