'Great Hackers, Terrible Traders': How Exploiters Panic Sold and Lost $13M During Market Chaos

Six wallets associated with known hackers lost more than $13.4 million during the October 10 crypto market crash due to panic selling. One wallet dumped 7,816 ETH at $3,728 during the steepest part of the downturn, followed by five others. Crucially, these hackers then rebought the same amount of ETH at $4,159 when the market bounced back, effectively locking in significant losses. Blockchain analysis confirmed the total loss from these trading missteps reached $13.4 million by October 18. While the behavior was labeled "panic selling," suggesting poor emotional decision-making, the funds were likely stolen assets, meaning the loss doesn't impact the hackers' personal wealth as severely as it would ordinary traders. An alternative theory suggests this could be a form of money laundering, strategically dumping tainted funds during panic to buy back 'cleaner' assets later. The event underscores that on-chain markets apply the same volatile rules to everyone, including sophisticated attackers.

(Source：CoinDesk)