Overview

• Arkham Intelligence and Lookonchain reported the Sept. 13 purchase of 3,976 ETH for 18.911 million DAI at an average price near $4,756.
• Analysts have tied the wallet to a wide social‑engineering scam targeting Coinbase users, with ZachXBT estimating at least about $330 million stolen.
• Arkham data indicates the DAI was aggregated in transactions ranging from roughly $80,000 to $6 million before being converted to ETH.
• The address has remained active in recent months, including July buys of 4,863 ETH and 649 ETH and about $8 million worth of Solana in August.
• The timing coincided with ETH pushing past roughly $4,700 and improving US spot ETF flows, and separate reports claim some companies have been adding to ETH treasuries.