Wallet Linked to Coinbase May Breach Sells 3,976 ETH at Loss Two Days After $19 Million Buy

Overview

• On September 13, the tracked address acquired 3,976 ETH for about $18.9 million using 18.9 million DAI, according to Arkham Intelligence and Lookonchain.
• On September 15, the wallet sold the entire position around $4,522 per ETH for roughly $17.98 million, realizing an estimated $932,000 loss.
• On‑chain investigator ZachXBT and analytics firms have linked the wallet to the May 2025 Coinbase social‑engineering breach with losses estimated in the hundreds of millions.
• The address has shown a pattern of consolidation trades, including July ETH buys and roughly $8 million in SOL in August, executed through decentralized venues such as CoW Protocol.
• The renewed activity lands as PeckShield reports $163 million in August hack losses and as Coinbase’s $20 million reward for information remains in place.