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Crypto Hacks Surge: $19M In Ethereum Grab by Infamous Wallet Raises Alarming Questions

by admin September 16, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A crypto wallet connected to the notorious $300 million Coinbase hack has reappeared with another suspicious move on the Ethereum blockchain.

Over the weekend, the address acquired 3,976 ETH worth approximately $18.9 million, according to on-chain data from Arkham Intelligence. The purchase was executed using 18.9 million DAI, a stablecoin, and split across multiple transactions before being consolidated into the buy.

The transaction came just as Ethereum broke above $4,700, marking its highest level in more than two weeks. Currently, ETH trades at $4,538, down 2.9% in the past 24 hours.

ETH’s price trends to the upside on the daily chart. Source: ETHUSD on Tradingview

A Pattern of Bold Acquisitions

This is not the first time the wallet has made waves. In July, it bought 4,863 ETH for $12.6 million and later added 649 ETH at $3,562 per token. Just last month, the same wallet scooped up $8 million worth of Solana (SOL), though that position has since slipped below entry price.

Analysts say the strategy shows deliberate fund consolidation, often seen in money laundering tactics. Breaking transactions into smaller amounts and using privacy tools allows the hacker to mask movements, making tracking more difficult.

Blockchain investigator ZachXBT previously estimated that the Coinbase-related social engineering scam drained at least $330 million from victims, warning that the real figure may be significantly higher.

Growing Concerns Over Rising Crypto Hacks

The latest Ethereum purchase shows broader concerns in the crypto industry, where hack-related losses reached $163 million in August alone, according to security firm PeckShield.

With exploits shifting from smart contract bugs to social engineering and cross-chain bridge vulnerabilities, wallets like this continue to pose a major threat to investor confidence.

Despite Coinbase offering a $20 million reward for information on the perpetrators and tightening security, the hacker remains unidentified. The latest $19M ETH grab proves the resilience and boldness of cybercriminals operating in the space.

As crypto rallies and institutional inflows grow, the question remains: is the hacker simply riding bullish momentum, or is this part of a deeper strategy to launder stolen funds? Regulators and blockchain investigators are watching closely, but for now, the crypto world is left with more questions than answers.

Cover image from ChatGPT, ETHUSD chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 16, 2025 0 comments
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Researchers find alarming overlaps among 18 popular VPNs

by admin September 4, 2025


A new peer-reviewed study alleges that 18 of the 100 most-downloaded virtual private network (VPN) apps on the Google Play Store are secretly connected in three large families, despite claiming to be independent providers. The paper doesn’t indict any of our picks for the best VPN, but the services it investigates are popular, with 700 million collective downloads on Android alone.

The study, published in the journal of the Privacy Enhancing Technologies Symposium (PETS), doesn’t just find that the VPNs in question failed to disclose behind-the-scenes relationships, but also that their shared infrastructures contain serious security flaws. Well-known services like Turbo VPN, VPN Proxy Master and X-VPN were found to be vulnerable to attacks capable of exposing a user’s browsing activity and injecting corrupted data.

Titled “Hidden Links: Analyzing Secret Families of VPN apps,” the paper was inspired by an investigation by VPN Pro, which found that several VPN companies each were selling multiple apps without identifying the connections between them. This spurred the “Hidden Links” researchers to ask whether the relationships between secretly co-owned VPNs could be documented systematically.

Starting from the list of the most-downloaded VPNs on Android, the researchers compiled data from each VPN’s business paperwork, web presence and codebase and sifted through it for connections. Primarily through identifying suspicious similarities in the code, they were able to sort 18 VPN apps into three groups.

Family A consists of Turbo VPN, Turbo VPN Lite, VPN Monster, VPN Proxy Master, VPN Proxy Master Lite, Snap VPN, Robot VPN and SuperNet VPN. These were found to be shared between three providers — Innovative Connecting, Lemon Clove and Autumn Breeze. All three have all been linked to Qihoo 360, a firm based in mainland China and identified as a “Chinese military company” by the US Department of Defense.

Family B consists of Global VPN, XY VPN, Super Z VPN, Touch VPN, VPN ProMaster, 3X VPN, VPN Inf and Melon VPN. These eight services, which are shared between five providers, all use the same IP addresses from the same hosting company.

Family C consists of X-VPN and Fast Potato VPN. Although these two apps each come from a different provider, the researchers found that both used very similar code and included the same custom VPN protocol.

If you’re a VPN user, this study should concern you for two reasons. The first problem is that companies entrusted with your private activities and personal data are not being honest about where they’re based, who owns them or who they might be sharing your sensitive information with. Even if their apps were all perfect, this would be a severe breach of trust.

But their apps are far from perfect, which is the second problem. All 18 VPNs across all three families use the Shadowsocks protocol with a hard-coded password, which makes them susceptible to takeover from both the server side (which can be used for malware attacks) and the client side (which can be used to eavesdrop on web activity).

Ultimately, a VPN provider being dishonest about its background and a VPN client running on slapdash infrastructure are symptoms of the same problem: these are apps designed to do something other than keep you safe online. Since all 18 were listed as unrelated products, it’s also clear that app stores are not an effective line of defense. The “Hidden Links” paper makes it all the more imperative to never download a free VPN without vetting it first, and to only use free VPNs that are supported by paid subscriptions, like Proton VPN.



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September 4, 2025 0 comments
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