Ethereum’s price rally has handed hackers a lucrative opportunity, enabling them to convert stolen crypto into tens of millions more than originally stolen—illustrating the risks that persist in crypto markets.
Main Event Details
As Ethereum (ETH) jumped to $4,780 this week, on-chain analysis revealed that three high-profile crypto exploiters took advantage of the surge to offload large amounts of stolen ETH. According to blockchain data reported by X account EmberCN, these hackers strategically sold their holdings, realizing significant extra profits.
Market Response
The hackers’ moves follow a pattern of selling when ETH prices peak. Their actions not only highlight continued vulnerabilities in decentralized finance (DeFi) protocols, but also underline how price rallies can intensify the impact of past attacks by boosting the value of stolen assets.
Key Stats
- Radiant Capital hack: Original theft was $53 million (October), most swapped for 21,957 ETH at ~$2,414. Offloaded 9,631 ETH this week for $44 million in stablecoins and now holds $101 million—$48.3 million more than at time of theft.
- Infini exploit: $49.5 million in USDC stolen in February, converted to 17,696 ETH at $2,798. Paid out $13 million for 3,540 ETH at $3,762/ETH and laundered 5,000 ETH via Tornado Cash. The remaining ETH gained an extra $25.15 million thanks to the rally.
- THORChain/Chainflip exploit: 17,412 ETH stolen in March for $33.9 million at $1,947/ETH, then re-bought 4,957 ETH at $2,495 and sold for $22.13 million at $4,464/ETH in June. The profit from this round: $9.76 million.
Broader Implications
These three cases intensify concerns over crypto security. Over the past 18 months, hackers have continued to exploit protocol weaknesses, contributing to an estimated $3.1 billion in losses during the first half of 2025 and another $1.49 billion in 2024. Each major rally not only recoups value for legitimate investors, but also massively increases the windfall for attackers holding stolen funds.
Conclusion/Outlook
Ethereum’s breakout has not only energized the market but also emboldened bad actors. The persistent cashout by hackers underscores a harsh reality—security lapses in DeFi can have compounding effects as markets rise. As Ethereum and other digital assets reach new highs, investors and builders must remain vigilant about platform security and recovery strategies. To stay informed on crypto markets and the latest threats, continue following trusted crypto news and security best practices.