A high-profile hacker, allegedly responsible for a $300 million breach at Coinbase, has recently acquired $8 million worth of Solana ($SOL), according to blockchain tracking reports. The move, which occurred on August 24, 2025, was noted for its speed, taking less than two hours to execute. Onchain Lens, a firm specializing in blockchain activity monitoring, confirmed the transaction, highlighting the hacker’s continued movement of stolen assets across multiple blockchains and wallets [1].

This latest activity follows a prior acquisition in July 2025 when the hacker purchased 4,863 Ethereum ($ETH) tokens using $45.36 million in $DAI. Analysts speculate that the hacker may continue to liquidate or trade the remaining $DAI holdings, which remain in two wallets. The strategy appears to involve diversifying stolen assets across various cryptocurrencies and chains to obscure the trail and complicate tracking efforts [1].

The hacker has also moved substantial amounts of other digital currencies, including $USDC, across a wide range of wallets and blockchains. This approach—using multiple chains to move funds—makes it increasingly difficult for investigators to determine the exact path of the stolen assets. The complexity of the transactions underscores the sophistication of the perpetrator and the challenges faced by law enforcement and blockchain tracking companies [1].

Coinbase has been actively investigating the breach, which it attributed to rogue customer service representatives who were bribed to gain access to internal systems. The company emphasized that no user passwords or private keys were compromised during the attack. In response to the incident, Coinbase has offered a $20 million reward for information leading to the arrest of the individual responsible, while explicitly stating it will not pay the ransom previously requested by the attacker. The company is also working closely with law enforcement agencies to bring the perpetrator to justice, although no arrests have been made to date [1].$SOL