CryptoHacker

Hey crypto fam, you’ve probably heard the buzz around the *hacker* and their massive stash of stolen *ETH* worth *1.45 billion*. 🤯 But there’s a little twist in the story that might surprise you. Let’s break it down!

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*What Happened?* 🤔

So, the hacker behind this *1.45 billion* in stolen ETH can’t just go and sell it for *USDC* or *USDT* directly. 😅 *Why?* Because if the hacker tries to cash out into stablecoins, those transactions will likely be *frozen* by *Circle* (for USDC) or *Tether* (for USDT). 🔒 These stablecoin issuers have security measures in place to block suspicious activities, like selling stolen crypto.

So, the hacker can’t just hit up the *exchange* and make a quick profit without triggering alarms. 🚨

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*The Hacker's Strategy: Selling Pressure!* 📉

Instead of directly selling into stablecoins, the hacker *took1.46 billion* in *selling pressure* from *ETH*. 💥 They’re trying to *push down the price* by dumping a huge amount of ETH onto the market.

Now, here’s the tricky part: For the platform to *cover* customer *ETH positions* and avoid any liquidation or problems, they’ll have to *buy back* that *$1.46 billion* worth of *ETH* from the market. 🏦
In simple terms, the hacker has caused *massive selling pressure* that could affect ETH’s price. It’s going to create *serious market movements* and may lead to a lot of volatility as the platform needs to buy ETH to manage its liabilities.

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*What’s the Impact?* 💥

- *ETH Price Volatility*:
The sudden sell pressure could cause *sharp price movements*, with ETH potentially dropping *in value*. If the platform starts buying back ETH, it may stabilize the price a bit, but it could still lead to a *volatile period* for ETH.

- *Platform’s Action*:
The platform has to *step in and buy back* the stolen ETH to settle customer positions. This could mean *big price swings* for ETH, so be ready for some turbulence in the market. ⚠️

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*Final Thoughts* 🧠

- The hacker may not be able to *cash out* directly, but they’re still causing a *huge mess* in the market. 😬
- The platform has to *step in* to buy ETH, but the *volatile market conditions* could create opportunities (or risks) for traders. 🚀

Be careful out there, folks, and make sure you stay informed! 🔍

$ETH
$XRP

#ETH #CryptoHacker #CryptoNewss #MarketImpact #ETHPrice