- Hacker shifts $7.95M into $SOL, signaling a strategic pivot to Solana’s DeFi ecosystem.
- Transaction leverages deBridge for fast Ethereum-to-Solana transfers, highlighting cross-chain vulnerabilities.
- Move coincides with Solana’s 8.06% price surge, fueling speculation of market manipulation.
In a bold move that’s sending ripples through the crypto community, the hacker who pilfered over $300 million from Coinbase users has shifted tactics, acquiring 38,126 $SOL—valued at $7.95 million—at $209 per token within the past two hours, as reported by Lookonchain on August 24, 2025.
This latest transaction, detailed via blockchain analytics and linked to deBridge cross-chain transfers, marks a pivot from the hacker’s earlier Ethereum-heavy strategy, where they sold 26,762 $ETH ($69.25M) two months ago.
The shift to Solana, known for its sub-100-millisecond transaction speeds and booming DeFi ecosystem, suggests a calculated play to leverage the network’s scalability and recent 8.06% price surge. Blockchain data reveals the hacker utilized deBridge, a favored bridge for rapid Ethereum-to-Solana transfers, to execute this move. With deep liquidity and guaranteed rates, deBridge has become a tool of choice for high-value transfers—legitimate or otherwise. The timing aligns with Solana’s growing institutional adoption, with publicly traded firms holding nearly 6 million $SOL ($1.1 billion), and a 30% TVL increase in Q2 2025. This could indicate the hacker is betting on Solana’s potential to challenge Ethereum’s DeFi dominance, a trend fueled by upgrades like Firedancer and Alpenglow.
The crypto world is abuzz with reactions, ranging from awe at the hacker’s market timing to warnings about meme coin risks. Some speculate this could pump $SOL further, while others question the ethics of profiting from stolen funds. For investors, this serves as a stark reminder of crypto’s volatility and the persistent threat of hacks, despite platforms like Coinbase facing scrutiny for lax security.
As the hacker’s next move remains uncertain, the incident underscores the need for robust safeguards in the evolving Web3 landscape.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
