The infamous Coinbase hacker is back, sending positive news with a massive Ethereum (ETH) buy. On-chain data shows the wallet scooped up 3,976 ETH worth $18.9M as the price surged past $4,700. But what are the best altcoins to buy?
This comes after a string of major moves, including Solana buys and millions in previous ETH trades. The wallet, tied to a $300M Coinbase scam, has been under constant surveillance all year.
As ETH hits a local high, traders are wondering if this was a bullish bet or just a laundering move. Either way, the Coinbase hacker’s activity is shaking up crypto markets again. Let’s dive deeper.
Why Did the Coinbase Hacker Spend $18.9M on ETH
The wallet linked to the $300M+ Coinbase scam consolidated 18.9M DAI into multiple Ethereum buys at an average price of $4,756 per ETH. This move coincided with ETH breaking past $4,700 for the first time in weeks, sparking intense speculation.
Analysts suggest three possible motives: laundering funds through a highly liquid asset, doubling down on ETH’s bullish momentum, or hedging against future market volatility.
Previous activity shows this wallet favors Ethereum for major moves, making this purchase a clear signal the operator sees value at current levels, or is hiding in plain sight.
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How the $300M Coinbase Scam Went Down
This wasn’t a direct hack of Coinbase’s systems but rather a massive social engineering attack. Hackers posed as Coinbase support staff, tricking users into handing over sensitive account information and even bribing outsourced employees to assist in the fraud.
According to onchain investigator ZachXBT, the total stolen amount likely exceeds $330M. The scam ramped up in late 2024, targeting high-value accounts with urgent calls and phishing emails.
Coinbase has since tightened its security protocols, but the “Coinbase hacker” continues to move funds undetected, showing just how vulnerable retail traders still are.
He even taunted ZachXBT with the phrase “L bozo” and a Youtube link.
Coinbase hacker trolls ZachXBT via on-chain messages (source)
Renowned crypto detective ZachXBT has complained that a Coinbase hacker is taunting him on the Eth network.
The attacker left the message "L bozo" (loser) and attached a meme video of NBA star James smoking a cigar. pic.twitter.com/HFlhZMChL1
— Crypto Hub (@Cryptonichub) May 22, 2025
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What Other Moves Has This Wallet Made in 2025: Secret Best Altcoins to Buy?
The Coinbase hacker wallet isn’t just buying ETH, it’s been highly active all year. In July, it purchased 4,863 ETH worth $12.55M, followed by another 649 ETH buy for $2.31M.
BREAKING:
COINBASE HACKER JUST BOUGHT 4,863 ETH WORTH $12.55 MILLION. pic.twitter.com/RNc9R23HQk
— Ash Crypto (@Ashcryptoreal) July 7, 2025
Last month, the wallet pivoted to Solana, grabbing $8M worth across multiple trades before bridging assets to Solana’s network. However, that SOL trade has since slipped below entry price, showing even hacker whales can get caught in volatile swings.
These patterns suggest a strategy of diversifying assets while obfuscating funds, leaving analysts questioning whether the wallet is laundering money or making strategic bets.
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Could This Spark a Bigger ETH Rally
Ethereum
1.59%
Ethereum
ETH
Price
$1,740.99
1.59% /24h
Volume in 24h
$6.22B
Price 7d
Buy with Best Wallet
‘s price action has been hot, recently touching $4,763, its highest level in two weeks. With the Coinbase hacker pouring nearly $19 into ETH, traders are now watching for a potential breakout, which could potentially lead to a new ATH for Ethereum.
Historically, large whale buys, even if they are from hackers, have sparked bullish momentum, especially when paired with positive market sentiment, as BTC is holding strong.
If ETH continues to cling, we can see a challenge to the $5K mark, a critical psychological barrier.
Right now, we have strong support at the $4000 level and support that is generating right now with the price consolidating above the $4,200 ETH price level.
However, if this buy was primarily a laundering move, the impact on the Ether price may be short-lived. Either way, this headline-grabbing transaction has reignited speculation around Ethereum and its role in whale-driven market swings.
Ethereum Eyes ATH, Best Altcoins to Buy: PEPENODE Could Deliver Real Breakout
Ethereum’s recent push toward a new all-time high has many traders waiting for confirmation, and while they are waiting, they are looking for juicy smaller-cap gems that can steal the spotlight.
One such project is PEPENODE, which merges meme coin energy with gamified mining in a way the market hasn’t seen before.
Instead of physical rigs and sky-high power bills, PEPENODE lets you build virtual mining rooms where customizable nodes generate meme coins like PEPE.
The more nodes you stack and upgrade, the higher your mining rewards will be. This playful twist on DeFi has already sparked serious investor interest, with over $1.1M raised so far.
Today’s price of one PEPENODE coin is $0.0010575, which will increase once they fill the target.
But do not let that ruin your mood because they offer one of the most competitive APY on the market, with 1232%.
While Ethereum fights to break out, PEPENODE could be the underdog that quietly 1000x’s.
More about the project, you can check their X and Telegram channels.
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