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 ￰0￱ 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 ￰1￱ 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 million) at an average of $4,159, suggesting they were scrambling to re-enter the market after missing the bounce. Hacker-linked wallets for Ethereum transactions.) systems, with settlements exceeding $13 million per ￰2￱ movements involved swaps between USDC, USDS, and SUSDS, suggesting the hackers used DeFi liquidity routes to mask or rebalance holdings after the market ￰3￱ attribute the October 10 crash to a combination of macro shocks, including new U. S.–China tariff tensions and cascading liquidations in overleveraged ￰4￱ and Ethereum have briefly rebounded with BTC at some point climbing back above $114,000, though volatility remains ￰5￱ price analysis Meanwhile, as of press time, Ethereum was trading at $3,982, having plunged over 4% in the past 24 hours, while on the weekly timeframe, the second-ranked crypto by market cap remains down almost 15%.

ETH seven-day price chart.) to maintain ￰6￱ image via Shutterstock