Coinbase Hacker $12.5M Swap Deepens $300M Crypto Theft

- Hacker linked to $300 million Coinbase breach converts $12.5 million into 4,863 ETH. - Over 45.36 million DAI still held across two wallets as funds are moved via cross-chain transfers. On July 7, 2025, the Korean media outlet Onchain Lens reported that the hacker behind the $300 million theft targeting Coinbase users recently swapped $12.5 million into 4,863 Ether (ETH). The report also revealed that the hacker still holds 45.36 million DAI across two wallets and uses cross-chain transfer methods to complicate tracking and recovery efforts. The original breach occurred in May 2025, affecting thousands of Coinbase users. Early investigations show the hacker laundered significant sums through cryptocurrency conversions. For instance, they converted $42.5 million from Bitcoin to Ether and subsequently sold 17,778 ETH for approximately 45.48 million DAI. The use of cross-chain bridges remains a key tactic for the hacker to evade detection. According to CoinMarketCap, Ethereum (ETH) was priced at $2,569.66 as of July 7 at 07:31 UTC, a price reflecting a 1.88% rise in 24-hour trading volume. Meanwhile, Dai (DAI) remained pegged at $1, with a negligible 0.001% change in its trading volume over the same period.