$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase's Conor Grogan

$8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase's Conor Grogan

Sudden $8,000,000,000 Bitcoin Wallet Movement Potentially Result of Hack, According to Coinbase Executive - The Daily Hodl

The sudden awakening of old Bitcoin (BTC) whale wallets may be linked to a hack, according to an on-chain analysis by Coinbase director Conor Grogan.

Hacker Spends 12.5 Million Dai to Buy 4,863 ETH After Coinbase Theft, Holds 45.36 Million Dai

The post Hacker Spends 12.5 Million Dai to Buy 4,863 ETH After Coinbase Theft, Holds 45.36 Million Dai appeared on BitcoinEthereumNews.com. On July 7th, blockchain analytics platform Onchain Lens reported a significant transaction involving a hacker who, after compromising a Coinbase account, utilized 12.5 million Dai to acquire 4,863 ETH at an average price of $2,569 per Ethereum. This strategic conversion of stablecoin to ETH highlights a nota…

Massive Bitcoin Transfer From Dormant Wallets Raises Concerns About Potential Breach

A Coinbase executive has raised the possibility that Thursday's transfer of 80,000 Bitcoin worth $8.6 billion could represent the largest theft in human history. According to Cointelegraph, Conor Grogan, Coinbase's head of product, stated there is a "small possibility" the movement from eight wallets dormant for over 14 years was the result of compromised private keys.The transfers occurred on July 4, 2025, involving wallets that had remained un…

Coinbase Director Suggests Hack Behind $8B Bitcoin Movement

One of the Coinbase directors, Conor Grogan, raised alarm over $8 billion worth of inactive Bitcoin. He opines that it is the movement that might signal a hack. The Bitcoin is a seven-year-old one. Grogan wonders it is not a typical sell-off. He has the suspicion of an organized security breach. In its recent report, BeInCrypto purports that a block of 20,000 BTC, or more than 2 billion dollars, was transferred through 2011 wallets. Coinbase is …