“Great Hackers, Bad Traders”: Panic Selling Led to 13 Million USD Loss During Market Turmoil
Last week’s massive cryptocurrency crash not only hit traders but also destroyed millions in stolen funds held by hackers, who panicked and mismanaged the market at a disastrous time.
Blockchain detective Lookonchain has tracked at least six wallets linked to known hackers who lost over 13.4 million USD in Ethereum after panic selling Ether at $3,887.97 during an economic downturn.
These hackers panic sold 7,816$ETH (29.14 million USD) as the market dropped to $3,728, incurring a loss of 3.37 million USD!