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Hacker from 2022 Pando Rings exploit buys 6,243 ETH for $10M during market dip

Market News
07 Jun 2026
Crypto Briefing
View Source
Neutral
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A wallet linked to the 2022 Pando Rings DeFi exploit has swapped $10 million in stolen DAI stablecoins for 6,243 ETH at an average price of $1,602, marking its first major activity since the hack. The transaction occurred during an Ethereum price dip, suggesting the hacker is betting on a price rise. This move indicates that a large portion of the stolen funds remain unfrozen despite prior recovery efforts. Investors should watch this wallet closely, as such large moves from exploiter wallets can signal potential future sell pressure.

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