Crypto Hacker Buys $8M Solana Despite Paper Loss

A crypto wallet linked to the suspected theft of over $300 million from Coinbase has purchased $8 million worth of Solana. Blockchain analytics firm Lookonchain, which labeled the wallet as “Coinbase hacker,” identified the address’s activity. The wallet appears to have converted DAI (DAI) to USDC (USDC), bridged to the Solana network, and then bought 38,126 SOL near the $209 mark in multiple transactions. Despite the purchase at a price below its current value of $202.15, the hacker has incurred a paper loss as they acquired these tokens at an early stage.