Ethereum News: $300M Coinbase Hacker Buys $18.9M in Ether as ETH Breaks Above $4,700

Key TakeawaysA wallet tied to the $300M+ Coinbase hack purchased 3,976 ETH worth $18.9M using DAI.The address has been steadily accumulating crypto, including Solana and earlier ETH buys.ETH price surged above $4,700, hitting its highest level in two weeks.Coinbase Hacker Adds Nearly 4,000 ETHA wallet linked to the $300 million Coinbase hack has accumulated another batch of Ether (ETH), buying 3,976 ETH worth around $18.9 million at $4,756 each, according to Arkham Intelligence.The funds were sourced from 18.9 million DAI, consolidated from smaller tranches ranging from $80,000 to $6 million before being swapped into ETH.The hacker wallet has been closely monitored by analysts since the alleged social engineering scam that drained over $300M from Coinbase users earlier this year. In May, onchain investigator ZachXBT said the actual theft could be higher than his $330M estimate due to limited data.Hacker Wallet’s Trading HistoryThe Ether buy is the latest in a string of large crypto trades:July: Bought 4,863 ETH ($12.55M) and 649 ETH ($2.3M) at ~$3,562.August: Acquired $8M worth of Solana (SOL), which later dipped below the entry price.This strategy shows the hacker’s preference for high-cap altcoins and large-scale accumulation.ETH Price Breaks Above $4,700The purchase coincided with Ether’s breakout above $4,700, hitting $4,763 — its highest in more than two weeks. ETH is currently trading around $4,718, up 4.5% on the day.The accumulation adds to bullish speculation, as institutional demand also strengthens through spot ETH ETFs.