Hackers Buying ETH: $38M Spent on Ethereum in One Move

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  Hack-linked wallets spent $38M in DAI to buy 8,637 ETH
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  ETH was purchased at $4,401 per token
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  Raises questions about future Ethereum price movement

In a massive crypto transaction, three wallets—believed to be linked to hackers—recently bought a total of 8,637 ETH. The wallets used $38 million worth of DAI (a stablecoin pegged to the US dollar) to make the purchase, paying roughly $4,401 per ETH.

This move, recorded just 7 hours ago, has caught the attention of on-chain analysts and traders. The wallets involved are not new to the crypto space and have been previously associated with suspicious activities, possibly related to earlier exploits or thefts.

Why Are Hackers Buying Ethereum?

The most intriguing part of this development is the motivation behind the buy. Hackers, or entities with connections to previous crypto exploits, are known to cash out their funds, not buy more crypto—especially not at high prices.

So, what’s going on here? Some analysts suggest that these entities could be anticipating a price rally in Ethereum. Others believe it might be a strategy to move funds through high-liquidity assets like ETH before converting them into privacy coins or mixing services.

Additionally, the timing—when ETH is already showing strong bullish signals—has only intensified speculation.

Could This Impact Ethereum’s Price?

While 8,637 ETH might not seem like a lot in the grand scheme of things, large purchases like these can have a psychological impact on the market. Traders and investors often track wallet activity—especially from major or suspicious sources—for signals.

If this is indeed the start of a trend where “smart” or “informed” money is flowing back into ETH, it could indicate rising confidence in Ethereum’s near‑term prospects.

Still, it’s important to note that the identity and true intent behind the wallets remain uncertain.