Hackers received 12,282 ETH via THORChain/Chainflip three months ago.
Sold at $1,932 then repurchased at $2,495—locking in a $6.9M loss.
Shows on-chain data can reveal costly mistakes, even for hackers.
Wallet address 0x17E0e39da162e17aFC566f835Fe41a5DF56E4EA5—suspected to belong to a hacker—made a costly trading decision. About three months ago, this wallet received 12,282 ETH, worth around $23.7 million at the time, from protocols THORChain and Chainflip. The entire amount was sold at a price of approximately $1,932 per ETH.
Betting Against the Usual Hacker Playbook
Fast forward to just 30 minutes ago on July 1, 2025—the same wallet made a surprising move. It bought back 4,958 ETH for around $12.37 million, this time at a significantly higher price of $2,495 per ETH.
This kind of move is quite unusual. Hackers typically avoid re-entering the market, especially at a worse price. But in this case, the wallet chose to jump back in, possibly expecting ETH to climb even higher.
Math Doesn’t Lie: $6.9M Red Ink
Let’s simplify the numbers:
TransactionETH AmountPrice per ETHUSD ValueSold12,282$1,932$23.7MBought4,958$2,495$12.37M
This means the hacker bought back less than half the ETH sold—at a higher price—leading to a paper loss of approximately $6.9 million. Whether this was a panic move or a miscalculated strategy remains unknown.
Hackers are not good at trading.
Wallet 0x17E0 (likely belonging to hackers) received 12,282 $ETH($23.72M) from #THORChain and #Chainflip 3 months ago and sold it at $1,932.
30 minutes ago, they bought back 4,958 $ETH($12.37M) at $2,495.
Losing ~$6.9M currently.… pic.twitter.com/QyI3ysJIUG
— Lookonchain (@lookonchain) July 1, 2025
Lessons from a Hacker’s Loss
On-chain activity reveals everything: No wallet is invisible, not even one tied to hacks.
Even hackers make bad trades: Selling low and buying high is a mistake many fall into.
Trading without a strategy is risky: Big money doesn’t guarantee smart decisions.
Read also:
Hacker Sinks $6.9M in Crypto Trading Blunder
Altcoins Poised for Major Bullish Reversal
New Crypto Tax Amendment Proposes $300 Exemption
Bitcoin Endures Longest Sideways Grind in History
Solana Advisor Joins X as Head of Product
The post Hacker Sinks $6.9M in Crypto Trading Blunder appeared first on CoinoMedia.
