Hacker Sinks $6.9M in Crypto Trading Blunder

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Bitget2025/07/01 11:08

By:Bitget

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Hackers received 12,282 ETH via THORChain/Chainflip three months ago.
Sold at $1,932 then repurchased at $2,495—locking in a $6.9M loss.
Shows on-chain data can reveal costly mistakes, even for hackers.

Wallet address 0x17E0e39da162e17aFC566f835Fe41a5DF56E4EA5—suspected to belong to a hacker—made a costly trading decision. About three months ago, this wallet received 12,282  ETH , worth around $23.7 million at the time, from protocols THORChain and Chainflip. The entire amount was sold at a price of approximately $1,932 per ETH.

Betting Against the Usual Hacker Playbook

Fast forward to just 30 minutes ago on July 1, 2025—the same wallet made a surprising move. It bought back 4,958 ETH for around $12.37 million, this time at a significantly higher price of $2,495 per ETH.

This kind of move is quite unusual. Hackers typically avoid re-entering the market , especially at a worse price. But in this case, the wallet chose to jump back in, possibly expecting ETH to climb even higher.

Math Doesn’t Lie: $6.9M Red Ink

Let’s simplify the numbers:

Transaction ETH Amount Price per ETH USD Value

Sold	12,282	$1,932	$23.7M
Bought	4,958	$2,495	$12.37M

This means the hacker bought back less than half the ETH sold—at a higher price—leading to a paper loss of approximately $6.9 million. Whether this was a panic move or a miscalculated strategy remains unknown.

Lessons from a Hacker’s Loss

On-chain activity reveals everything: No wallet is invisible, not even one tied to hacks.
Even hackers make bad trades: Selling low and buying high is a mistake many fall into.
Trading without a strategy is risky: Big money doesn’t guarantee smart decisions.

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Hacker Sinks $6.9M in Crypto Trading Blunder

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.

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