Key Insights:
- Ethereum’s ascent to $4,780 has substantially amplified the value of assets acquired from three significant hacks, allowing thieves to redeem millions in extra profits.
- The operator behind the Radiant Capital breach saw gains of $48.3 million from an initial theft of $53 million. The Infini hacker scored an additional $25.15 million from their $49.5 million theft. A third hacker cashed out $9.76 million this week.
- These incidents reflect a troubling trend in crypto security, with a total of $3.1 billion plundered by hackers in the first half of 2025 alone, following $1.49 billion taken in 2024.
Ether’s recent surge has proven lucrative for multiple infamous hackers, allowing them to offload stolen assets profitably.
According to on-chain data disclosed by the Twitter account EmberCN, hackers strategically unloaded ETH tokens for substantial profits.
The Radiant Capital thief, suspected to be affiliated with North Korea, stole around $53 million from the DeFi platform last October. They converted a chunk of their loot into 21,957 ETH at about $2,414 each, later liquidating 9,631 ETH for around $44 million in stablecoins this week. They now control 12,326 ETH along with the stablecoin proceeds, valuing the entire haul at approximately $101 million, representing a profit of $48.3 million over the original stolen value.
A similar scenario unfolded with the Infini heist in February, where the attacker drained $49.5 million worth of USDC before converting it into 17,696 ETH at $2,798 each. After laundering 5,000 ETH through Tornado Cash, they sold 3,540 ETH for $13 million in stablecoins at an average rate of $3,762. The recent ETH rally increased their stash value overall, netting an extra $25.15 million.
The third incident involved an unidentified hacker who took 17,412 ETH from THORChain and Chainflip in March, later liquidating those assets for $33.9 million in DAI at a rate of $1,947 each. Returning to the market in June, they purchased 4,957 ETH at about $2,495, selling them subsequently for $22.13 million in stablecoins at $4,464, which resulted in a profit of $9.76 million.
These three breaches are part of a protracted surge in hacking activity, with investors suffering massive losses, including $3.1 billion in just the first half of 2025 and $1.49 billion in 2024.
