Coinbase hacker buys $8M in Solana as investigation continues; experts track rapid crypto moves across multiple chains and wallets.
A well-known hacker has made headlines again after stealing over $300 million from Coinbase. This time, the hacker has bought $8 million worth of Solana ($SOL). The transaction was fast and took only two hours. Onchain Lens, a company to track blockchain activity, announced the news on August 24, 2025.
Coinbase Hacker Bought $12.5M in Ethereum Before Solana Move
Earlier, the hacker had other big crypto maneuvers. In July 2025, the same individual bought 4,863 Ethereum ($ETH) using $DAI, at 12.5 million dollars. By that time, the hacker had not moved the $45.36 million of $DAI in two wallets yet. Consequently, analysts consider that the hacker might buy more cryptocurrency in the future.
Moreover, the hacker does not target Solana or Ethereum only. Reports indicate that they have been transferring other digital currencies as well, like $USDC. Such transfers are made between numerous wallets and chains. Due to this fact, it is extremely difficult to track the destination of stolen finances.
Moreover, the hacker has a clever way of concealing the activity. The attacker can use lots of various blockchains to keep the funds moving and hard to follow.
In the meantime, Coinbase is investigating. Since the first discovery of the attack, the company has acted strongly. Coinbase reported that the hack was done by rogue customer service representatives who were bribed. They, however, stated that no passwords or private keys were stolen in the hack.
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To fight back, Coinbase has put a reward of 20 million dollars to any person who assists in catching the hacker. The company clarified that it will not pay the USD 20 million ransom requested by the attacker. They are collaborating with the law enforcement agencies to get the criminal to justice instead. No arrests have been carried out so far.
Coinbase Hacker Remains Elusive with Rapid Crypto Transfers
Meanwhile, the hacker was smart to purchase Solana. Within the last 30 days, Solana has increased by more than 17%. However, the coin is 29% below its all-time high of $293 in January of 2025. Analysts say the price can go as high as $360, and this is perhaps why the hacker bought it now.
Since the hacker is going to make bold and rapid moves, the investigators should do so as well. New transfers and wallet addresses are found every day. The hacker appears to remain a step ahead. However, with the continued assistance of blockchain experts and Coinbase, it is not completely out of the picture.
To sum up, the Coinbase hacker case is not over yet. However, the Coinbase hacker remains active and difficult to trace, using smart tactics and fast moves across blockchains. The most recent development in the case is the purchase of Solana for $8 million, which is only the latest turn of events in the complex case. With more information still being uncovered, the crypto sphere and the police are both on high alert. Further developments will be made in the forthcoming weeks.