A crypto wallet linked to a notorious Coinbase hacker purchased 3,976 Ether worth over $18.9 million at $4,756 per token using 18.911 million DAI. The wallet is tied to a $300 million+ social engineering scam. Analysts estimate victims were defrauded of at least $330 million.

The same wallet previously bought $8 million of Solana, 4,863 ETH, and 649 ETH. The latest Ether purchase occurred as ETH price rose above $4,700 to reach $4,763, its highest in over two weeks. ETH is currently trading at $4,718, up by 4.5% in the past day.

A trader on Hyperliquid turned a $125,000 deposit into a $303 million leveraged long on Ether, reaching a peak equity of $43 million. The trader exited the position with $6.86 million in profit after four months of compounding gains and high leverage. The strategy yielded a 55x return on the initial stake.

Read more at Cointelegraph: Coinbase Hacker Buys $18.9M in Ether at $4,756, Onchain Data Shows