Bitrue Hacker Is Buying the Dipped Price of ETH

The Bitrue hacker is buying $ETH! On Mar 10, 2024, the hacker sold the stolen 4,207 $ETH for 16.34M $DAI at $3885

The notorious Bitrue hacker has started purchasing ETH at the dipped price of $2769. After swapping 4,207 ETH for 16.34M DAI on March 10, 2024, at around $3,885 per coin, the hacker has left the funds in DAI until today, at least.

On June 10, 2024, the same address started using its DAI balance instead to acquire Ethereum at cheaper rates. Thus far, 8.3 million DAI has been swapped for 2,999 ETH at an average price of $2,769 per token. This move is classic “buy the dip” and may indicate the hacker is playing the game cleverly.

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Meanwhile, on-chain analysts have also found a whale address 0xFC82 going big on ETH. This address has withdrawn 33,500 ETH ($93.5 million) from Binance in the past two days.

Such outflows frequently come before staking, cold storage transfers, or even re-deployment into DeFi yield strategies. The timing suggests that large holders are shifting positions in response to the market.

Between a savvy hacker and a sizeable institutional player, the Ethereum network continues to demonstrate its unique mix of unpredictable and open nature. All of these transactions are publicly available, so analysts can monitor sentiment and liquidity flows in real time.

As we move forward, users are already watching to see whether the Bitrue hacker will continue to slowly build a position in ETH and where the whale's withdrawn funds will land.