Hackers Reengage in Ethereum Buying After Flash Crash
Hackers have resumed purchasing Ethereum following the October 10 flash crash that saw the digital-asset market experience its worst single-day drop. On-chain data reveals that hacker-linked wallets, which initially sold 8,638 ETH worth $32.5 million during the crash, have since repurchased 7,816 ETH at $4,159 and an additional 9,240 ETH at $4,269.
These transactions were facilitated through CoW Protocol and MakerDAO, involving swaps between USDC, USDS, and SUSDS. The crash, which saw Bitcoin fall over 8% to around $104,000, was attributed to macroeconomic factors such as U.S.–China tariff tensions and cascading liquidations from overleveraged positions.