Hacker converts $8M into Solana after Coinbase exploit
A hacker connected to a recent Coinbase exploit has shocked the crypto community by spending $8 million to buy Solana (SOL). Blockchain trackers revealed the transaction after monitoring wallets linked to stolen funds, showing a large shift from stablecoins into SOL.
This sudden move raises many questions. Why would a hacker choose Solana over more liquid assets like Ethereum or Bitcoin? Analysts suggest two possible reasons:
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Liquidity and demand – Solana has seen a huge surge in daily trading volume and adoption, making it easier for hackers to move funds without raising immediate alarms.
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Cross-chain strategy – By converting stolen funds into $SOL, hackers may try to use Solana’s fast network and growing DeFi ecosystem to hide or launder assets.
The $8M purchase immediately caught the attention of security researchers, who warned that this could be part of a wider laundering scheme. By moving across chains, hackers often try to break transaction trails, making it harder for investigators to follow the money.
Coinbase has yet to comment publicly on the situation, but the event has already fueled discussions about the security of centralized exchanges and the growing sophistication of attackers.
How Chain Retrieval can protect crypto users
The Coinbase exploit and the hacker’s $8M Solana purchase underline a painful reality: even large, regulated exchanges are not immune to cyberattacks. But while hacks may continue, Chain Retrieval technology offers a way forward for everyday crypto users.
Chain Retrieval is an emerging security solution designed to recover stolen funds and protect users from phishing, exploits, and malicious transactions. Unlike traditional recovery methods that rely on centralized control, Chain Retrieval works directly on-chain, making it transparent and trustless.
Here’s how Chain Retrieval protects crypto investors:
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Real-time monitoring – It scans transactions for suspicious activity and alerts users before funds are lost.
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On-chain recovery – If an exploit occurs, Chain Retrieval can trace and flag assets, making them harder to cash out.
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Cross-chain security – Works across multiple blockchains, including Ethereum, Solana, and Layer-2s.
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User control – Gives investors tools to revoke malicious approvals, preventing hackers from draining wallets.
If Chain Retrieval had been active in cases like the Coinbase hack, stolen assets could have been flagged earlier, making it harder for hackers to move funds into Solana or other ecosystems.
This technology is still developing, but security experts believe it could become a standard in Web3 security, especially as phishing and exploits continue to grow.
Why Solana was the hacker’s choice
The hacker’s decision to buy $SOL isn’t random. Solana has been one of the fastest-growing blockchains in 2024 and 2025, attracting massive interest from DeFi developers, NFT marketplaces, and institutional players.
Key reasons hackers are targeting Solana:
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High throughput – Solana’s network can handle thousands of transactions per second, perfect for quickly moving stolen funds.
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Expanding DeFi ecosystem – With more lending and trading platforms, it becomes easier to launder assets.
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Cross-chain bridges – Hackers often exploit bridges to shuffle assets across multiple blockchains.
But while hackers may see opportunity, investors must remain vigilant. By using a Company like Chain Retrieval, combined with safe wallet practices, users can minimize risks and avoid becoming victims of similar exploits.
Protecting yourself in Web3
The $8M Solana purchase shows just how bold crypto hackers have become. But users can take steps to stay safe:
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Always verify official exchange and wallet URLs
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Avoid signing suspicious smart contract approvals
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Regularly check and revoke token allowances on Revoke.cash
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Use security-focused wallets with built-in monitoring
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Consider platforms that integrate Chain Retrieval crypto protection
As the Coinbase hack demonstrates, no platform is entirely safe. But with Chain Retrieval technology and stronger user awareness, the crypto community can move toward a safer, more resilient future.