Radiant Capital Hacker Profits Rise with Ethereum New All Time High

The Radiant Capital Hacker has once again surprised the crypto market by turning stolen money into even more profits.

Recently, the he made another $2.76 million through trading Ethereum.

This move has lifted his stash to more than $105 million, which is now 114% higher than the $49.5 million they had after the theft.

What began as a $53 million hack 10 months ago has now become one of the most profitable cases of stolen crypto.

Source: Lookonchain

Just three days ago:

• They bought 4,913 ETH worth $20.47m at $4,168.
  

• In five hours, they sold 4,131 ETH for $19.52 million at $4,726, locking in strong gains.

From Stolen Funds to Market Timing

The Radiant Capital Hacker has shown resilience and skill in managing the stolen funds. On August 14, reports confirmed that the amount of $53m had already grown to $102.54m, almost 93.5% in profit.

Source: X (previously Twitter)

The method was simple: swap the hacked funds for 21,957 ETH and wait for the market to rise .

Recently, he sold 9,631 ETH worth $43.94m at an average price of $4,562. Even after this, the Radiant Capital Hacker still holds more than 12,000 ETH valued at $58.6 million, giving room for more profits if this cryptocurrency climbs higher.

Ethereum Price Surge

The gains were supported by the broader Ethereum price rally. After U.S. Federal Reserve Chair Jerome Powell’s recent speech, chances of a September rate cut increased. This boosted investor confidence, sending the crypto up 13% in a single day.

Ethereum’s price hit a new all-time high of $4,933, widely reported in Ethereum price news . Over the past month, ETH has gained 29%, and it has grown 78% this year.

Analysts believe that if it can hold above $4,700, the next Fibonacci extension target could be $5,299.

Source: CoinMarketCap

It is now trading at $4726 with an increase of around 9% in the last 24 hours as per the CoinMarketCap .

Community Reaction to the Hacker’s Moves

The Radiant Capital Hacker's actions brought controversy among the crypto community. Traders now monitor the wallet closely, as large sales can swing Ethereum's price . Some even mentioned a viable idea:

" If he's smart, he should continue trading. If he earns enough profit, he can return the stolen amount and reserve the profit. "

This singular perspective displays the way the hacker is not just considered a thief anymore, but also a significant market force whose trades attract notice like a whale investor.

Conclusion

The tale of the Radiant Capital Hacker demonstrates the manner in which stolen money can swell with patience and timing.

With Ethereum reaching new record highs following Powell's speech, the stash has doubled in value.

If the cryptocurrency is trading above $4,700, then the next threshold could be $5,299.
Disclaimer: This article is for information purposes only kindly DYOR (do your own research) before investing in crypto market.