A Ethereum wallet associated with multiple high-profile DeFi hacking incidents suddenly resumed activity after approximately 12 months of silence, sparking significant market attention. On-chain data shows that the wallet recently sold off over $2 million worth of various mainstream cryptocurrencies, highlighting the ongoing risks of cryptocurrency theft.
According to on-chain analysis platform Lookonchain, on December 30th, this Ethereum address sold large amounts of tokens including UNI, LINK, CRV, and YFI in a single transaction. The sale included approximately 226,961 UNI tokens worth about $1.36 million; 33,215 LINK tokens valued at nearly $410,000; 845,806 CRV tokens worth around $328,000; and more than 5 YFI tokens valued at approximately $17,500. Additionally, the address also liquidated or reduced holdings of other tokens.
On-chain tracking indicates that this wallet is closely linked to the 2021 Indexed Finance hack and the 2023 KyberSwap attack. Indexed Finance was attacked that year due to flash loan and price manipulation vulnerabilities, resulting in losses of about $16.5 million. The attacker claimed their actions complied with smart contract rules, sparking widespread controversy over DeFi mechanism design.
Later, in November 2023, the Elastic liquidity pool of KyberSwap was repeatedly exploited across multiple blockchains, draining nearly $49 million. Following the attack, the hacker even attempted to extort the protocol team by offering to return some assets, further shaking the market.
In February 2025, U.S. law enforcement released indictment documents accusing 22-year-old Canadian suspect Medjedovic of carrying out the two aforementioned attacks. Prosecutors stated that he laundered the stolen assets through mixers and cross-chain bridges, and pressured the KyberSwap team after the attacks. The suspect remains at large.
The reactivation of this wallet also reflects the severe risks of cryptocurrency theft in 2025. According to Chainalysis data, the estimated losses from crypto asset theft in 2025 range between $2.7 billion and $3.4 billion. Over 60% of these losses are related to centralized platforms, and many incidents are believed to be connected to North Korean hacking organizations. Although the average loss per individual wallet has decreased, the overall security situation remains grim.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Foundation Offloads $10.2M ETH to BitMine in OTC Deal
The Ethereum Foundation has completed a direct OTC sale of 5,000 Ether to BitMine Immersion Technologies, a move valued at about $10.2 million at the agreed price of $2,042.96 per ETH. The deal was announced in a Saturday post on X, with proceeds earmarked to support the foundation’s core
CryptoBreaking14m ago
SEC and CFTC Reach New 2026 Cryptocurrency Regulatory Agreement to Jointly Clarify Market Rules
The U.S. SEC and CFTC signed a memorandum of understanding on March 11, planning to jointly coordinate cryptocurrency regulation by 2026, covering six priority areas to mitigate jurisdictional conflicts between the two agencies, providing a clearer market environment and compliance guidance.
GateNews24m ago
A Certain CEX's 24-Hour Trading Volume Reaches $1.369 Billion, XRP, BTC, ETH Rank in Top Three
According to CoinGecko data, on March 16, a certain CEX's trading volume reached $1.369 billion, up 72.28% from the previous day. The top five tokens by trading volume are XRP, BTC, ETH, TRUMP, and DKA.
GateNews33m ago
BlackRock Attracts $600 Million in Bitcoin ETF Inflows, ETH and SOL Rally in Tandem, XRP Under Pressure Against the Trend
This week, Bitcoin spot ETF net inflows were significant, with BlackRock's IBIT absorbing $600.1 million and solidifying its leading position, while Grayscale's GBTC saw outflows of $25.9 million. Meanwhile, Ethereum and Solana ETFs also performed well, but XRP ETF experienced capital outflows of $28.07 million. Analysis suggests that current capital flows indicate institutional demand for safe-haven positioning in mainstream crypto assets, while the cautious stance toward XRP may influence market trends.
GateNews1h ago
ETH Short-term Decline of 0.74%: Institutional Rebalancing and Short-term Profit-Taking Drive Selling Pressure
On March 16, 2026, from 06:00 to 06:15 (UTC), ETH experienced significant volatility within a 15-minute period, with a return of -0.74%. The price fluctuated between 2260.98 and 2281.3 USDT, with an amplitude of 0.89%. During this time, trading volume noticeably increased compared to the previous cycle, market volatility intensified, and community attention was drawn.
The main drivers of this volatility were large on-chain ETH transfers and substantial sell orders on the exchange, suspected to be institutional or whale portfolio rebalancing activities during this window, which directly led to short-term downward pressure on the price. Simultaneously, order book depth decreased, buy-side support diminished, and large individual trades further contributed to the market instability.
GateNews1h ago
