Hackers Take a Hit: Crypto Market Chaos Leaves Cybercriminals in the Red
In the recent crypto market chaos, hackers found themselves on the losing side. Blockchain investigators spotted at least six digital wallets linked to hackers that lost over $13.4 million.
The Mistake
These hackers, known for stealing cryptocurrency, made a big mistake by selling their stolen ether at the worst possible time.
- First Sale: One wallet sold 7,816 ether coins at a price of $3,728 each.
- Market Drop: As the market continued to drop, five more wallets followed, making the situation worse.
- Rebuying: Instead of keeping their money safe, they bought back the same amount of ether at a higher price of $4,159, locking in even more losses.
- Total Loss: By October 18, the total loss from these bad trades reached $13.4 million.
The Irony
These hackers are usually good at finding weaknesses in crypto systems. But in this case, they reacted to the market like anyone else who panics and makes poor decisions. Some people even joked that these hackers are great at stealing but terrible at trading.
The Stolen Money
The money these hackers lost wasn't even theirs to begin with. It came from earlier hacks, so the losses don't hurt them as much as they would a regular trader. It's like finding a suitcase full of cash, gambling it away, and ending up with nothing. You're worse off, but you didn't lose your own money.
The Cleaning Theory
There's another possibility: these hackers might have been trying to clean their stolen money. By selling and buying back during the panic, they could have been trying to make their money look clean, even if it meant taking a loss.
Market Correction
The market correction on October 10 affected everyone, from small traders to big players. It shows that in the world of crypto, the same rules apply to everyone, whether you're a regular person, a big investor, or a hacker.
