On Wednesday night, a mysterious message appeared on the Ethereum blockchain — a direct mockery aimed at one of the most prominent crypto investigators. The sender? A hacker linked to the recent massive data breach at Coinbase, which compromised the accounts of over 69,000 users and may cost the exchange hundreds of millions of dollars.
The taunt, simply reading "L bozo", was embedded in a transaction and meant to ridicule the investigator. The hacker even included a link to a viral meme video featuring NBA Hall of Famer James Worthy smoking a cigar, escalating the provocation.
💰 $44.9 Million Laundered Through THORChain
But the trolling wasn’t all. On Tuesday, the attacker began liquidating stolen assets, converting 17,800 ETH into DAI stablecoins — worth roughly $44.9 million — using THORChain, a decentralized cross-chain trading protocol.
📉 The swaps occurred at an average ETH price of $2,528.
💼 One major swap involved 9,080 ETH for $22.8 million in DAI.
Using THORChain allowed the hacker to bypass centralized exchanges, complicating tracking efforts and signaling a new level of sophistication in crypto laundering tactics.
🔓 What Happened at Coinbase?
Coinbase confirmed that the breach took place in December 2024, but it wasn’t disclosed publicly until May 2025. The hackers gained access to sensitive personal data of around 69,000 users.
Soon after, they allegedly demanded $20 million in Bitcoin as ransom, threatening to leak the stolen data on the dark web. Coinbase refused to pay and instead offered the same amount as a reward for information leading to the attackers.
📉 Financial Fallout: Coinbase in Crisis
The breach has severely damaged Coinbase’s reputation. On Wednesday, its stock (COIN) closed down 0.92% at $258.97, continuing a 36% monthly decline.
Security experts claim the exchange ignored prior warnings of suspicious activity as early as December, a failure that now haunts its image and user trust.
🛡️ Binance and Kraken Also Targeted
Coinbase wasn’t the only target. Binance and Kraken also faced recent social engineering attempts, where attackers posed as users and tried to bribe support agents.
Binance’s AI systems successfully flagged and blocked the suspicious messages. Kraken reported no customer data losses either, thanks to strong internal protocols.
🔚 A Glimpse Into the Future of Crypto Crime?
This case is more than a breach — it's a bold show of power by a cybercriminal who’s fluent in DeFi and unafraid to mock those chasing him. With advanced laundering tactics and an open taunt of blockchain sleuths, we may be witnessing the next evolution in crypto-based crime.
Coinbase may recover financially — but the reputational scars will be harder to erase.
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