Hacker 0x17E0 Sells $22M in ETH, Secures $9.75M Profit
Hacker 0x17E0 dumps 4,958 ETH for $22.13M, locking $9.75M profit. Will they buy back at higher prices again?
- Hacker sold 4,958 ETH worth $22.13M at $4,463.
- Trade locked in a $9.75M profit during market dip.
- Past history suggests possible buyback at higher prices.
Hacker Offloads $22M in ETH Amid Market Dip
In a swift reaction to a recent market downturn, the hacker wallet 0x17E0 has panic-sold 4,958 ETH, worth approximately $22.13 million, at a price of $4,463 per ETH.
Despite the sudden exit, the move wasn’t a loss-making one—quite the opposite. The sale locked in a profit of $9.75 million, highlighting the hacker’s ability to time exits for significant gains. This latest maneuver occurred just five hours ago, catching the attention of on-chain watchers and crypto traders tracking whale and hacker wallets.
A Pattern of Selling and Buying Back
What makes this sale particularly intriguing is 0x17E0’s history. In previous market swings, the hacker sold large ETH positions only to buy them back later at higher prices, potentially driven by FOMO (Fear of Missing Out) or a longer-term bullish outlook on Ethereum.
If $ETH continues its upward trajectory, some in the crypto community are already speculating that the hacker may repeat this pattern, re-entering the market at higher levels and possibly impacting short-term price action.
Market Implications of Large-Scale Sales
Large sales from whale or hacker wallets can influence short-term sentiment, even if conducted OTC or across multiple transactions. Traders often monitor these moves as potential signals for market shifts or upcoming volatility.
With Ethereum still trading near multi-month highs, the question now is whether 0x17E0 has truly exited—or if this is just another step in a recurring cycle of selling into dips and buying into strength.
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