UXLINK Hacker Spends $10.87M on Ethereum

Edgen Crypto

·Feb 19 2026, 09:49

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Key Takeaways

The wallet address linked to the UXLINK exploit has shown significant activity after a three-month dormant period, executing a large-scale conversion of stablecoins into Ethereum. This move injects both capital and uncertainty into the market, as a large balance of stablecoins remains.

Hacker Reemerges: An address identified as the UXLINK exploiter executed its first major transactions in three months.
Major ETH Purchase: The entity spent $10.87 million in DAI stablecoins to acquire 5,493.26 ETH at an average price of $1,979.27.
Significant Remaining Holdings: The exploiter's wallet still holds 21.42 million DAI, representing a potential source of future market volatility.

Hacker Converts $10.87M DAI Into 5,493 ETH

After three months of inactivity, the on-chain entity identified as the UXLINK exploiter has executed a significant digital asset trade. The hacker utilized four different wallet addresses to spend $10.87 million in DAI stablecoins, acquiring 5,493.26 ETH. The purchases were made at an average price of approximately $1,979.27 per ETH, signaling a substantial bet on the cryptocurrency's value.

Exploiter's $21.42M Balance Poses Market Risk

While the large ETH purchase could be interpreted as a bullish signal creating buy-side pressure, the exploiter's remaining holdings introduce considerable market instability. The address still holds a balance of 21.42 million DAI. This large pool of illicitly obtained funds represents a significant overhang, as a sudden decision to liquidate either the DAI or the newly acquired ETH could trigger sharp price declines. The high-profile nature of these transactions is likely to attract increased monitoring from chain analysis firms and law enforcement agencies.