$300M Coinbase Hack: Wallet’s $18M ETH Buy Spurs 4.5% Rally

• Hacker wallet purchases 3,976 ETH worth $18.9 million, driving Ethereum’s price up by 4.5%.
• Ethereum peaks at $4,763, its highest level in over two weeks.

Mitrade, TradingView, and CoinCentral reported on September 13, 2025, that a crypto wallet linked to the $300 million Coinbase hack executed a significant Ethereum purchase. The wallet acquired 3,976 ETH valued at approximately $18.9 million, paying an average price of $4,756 per token. This transaction led to a 4.5% rise in Ethereum’s price, which reached $4,718 and peaked at $4,763—the highest level seen in more than two weeks.

The acquisition was facilitated using 18.911 million DAI. By consolidating the stablecoin from fragmented amounts ranging between $80,000 and $6 million, the wallet strategically minimized immediate price slippage during the purchase.

A review of the wallet’s history reveals it has consistently engaged in speculative trades that aim to capitalize on significant market movements. Back in July, the wallet purchased over 5,512 ETH worth $14.86 million, while in August, it spent $8 million to acquire Solana (SOL). Earlier this year, the wallet made headlines for selling 26,762 ETH for approximately $69.25 million. By alternating between acquisitions and liquidations, the wallet has consistently influenced Ethereum’s price trends.

Other whale wallets have also shown increased buying activity in the ETH market, contributing to the overall uptick. However, the wallet associated with the Coinbase hack remains distinct due to its high-profile involvement and uniquely structured transactions, reinforcing its notable role in shaping Ethereum’s market sentiment.

As of September 13, 2025, 15:12 UTC, Ethereum (ETH) is trading at $4,699.68, showcasing a 3.63% increase in 24-hour trading volume, as per CoinMarketCap data.