Hackers go on buying spree for this crypto after October 10 historic crash
Crypto markets are showing signs of recovery after last week’s historic flash crash, and on-chain data suggests even the hackers who panicked at the bottom are jumping back in. To recap, on October 10, the digital-asset market suffered its worst single-day drop in history, wiping out over $18 billion in leveraged positions as Bitcoin (BTC) plunged more than 8% to around $104,000. Ethereum (ETH) and most altcoins tumbled in tandem, triggering mass liquidations across major exchanges. Now, several hacker-linked wallets made a series of high-value Ethereum transactions following the crash, according to Arkham Intelligence data. Notably, as prices hit multi-week lows, hackers offloaded 8,638 ETH worth roughly $32.5 million at an average price of $3,764 per coin. The move turned out to be poorly timed, they reportedly lost about $5.5 million in value as ETH prices quickly rebounded. However, on October 14, the same entities bought back 7,816 ETH (worth another $32.5...