An Ethereum whale buys 27,553 ETH for about $62.97 million in five hours, per on-chain trackers. Lookonchain, citing investigator ZachXBT, ties wallet 0x9EcA to a suspected European entity loss of more than $106 million across several centralized exchanges. The buy lands while Ethereum funding rates sit near their softest levels since June’s market bottom.
Ethereum Whale Buys 27,553 ETH After Suspected $106M Loss
Lookonchain said ZachXBT flagged an EU entity suspected of losing more than $106 million from multiple centralized exchange accounts. The attacker then used wallet 0x9EcA to buy 27,553 ETH on-chain. The average price was about $2,286. The five-hour clip totaled roughly $62.97 million.
Lookonchain also said the funds moved through multiple platforms after the buys. Earlier legs included USDC funding from Kraken. Public posts do not prove the full trail of the suspected stolen funds. They do show a large ETH stack building in one wallet after the alleged exchange losses.
The print is not a clean “conviction whale” signal on its own. Whale alerts cannot separate a fresh buyer from a getaway buy. That distinction matters for readers who treat large ETH transfers as directional cues. It also sits next to a tape where Ethereum price still holds near $2,300 while ETF outflows keep sellers in view.
Negative ETH Funding Rates Frame the Buy
Trader Ted (@TedPillows) said ETH funding rates were at their lowest since June’s bottom. He pointed to crowded shorts expecting a major dump. Funding is the periodic payment between longs and shorts in perpetual futures. When the rate turns negative, shorts pay longs. That usually means more traders lean bearish.
Very negative funding can still squeeze shorts if price jumps and forced covering hits the tape. Negative funding alone does not forecast a rebound. Recent LBN coverage has already tracked soft and negative Binance ETH funding prints while long accounts stayed crowded. The whale buy and the funding backdrop are two separate reads. One is a named on-chain accumulation. The other is leverage positioning.
Why the ETH Whale Buy Matters Below September Highs
The reported buys cleared near $2,286. That remains well below Ethereum’s September high near $2,800. The gap shows how much selling pressure has stuck since that peak. A $62.97 million clip is large enough to dominate the day’s on-chain chatter. It does not, by itself, reset the higher-timeframe chart.
The stake is attribution. If investigators confirm the exchange-account losses, the “whale” is a post-theft cash deployment, not fresh spot demand. If the link weakens, the same wallet still shows a fast $62.97 million ETH build at prices far under the September high. Either path leaves traders watching whether funding stays soft and whether ETH can reclaim levels closer to $2,800, not whether one five-hour buy proves a recovery.
The post Ethereum Whale Buys 27,553 ETH for $62.97M in 5 Hours appeared first on Live Bitcoin News.
