Someone was drained for $18M (~5800 ETH) from their Coinbase account 9 hours ago. Funds were immediately transferred to instant exchanges and bridged to Bitcoin via THORChain, tBTC, and Wan Bridge.

Theft address
0xf2fB2844C46C19A623957Ed6DBaB148301B18161

maybe this is a dumb question, but who holds 18M in a hot wallet?

Building /oval - a newborn creative community in Barcelona.

yeah alright, it makes sense

just feels like an insane amount of eth to have lying around - does Coinbase have any kind of responsibility for funds on their wallets?

Tbf I wouldn’t consider the coinbase app a “hot wallet” - If properly configured it’s pretty much impossible to 1 click phish yourself.

How long was it in the hot wallet though? 

Account could have been compromised just waiting for someone to deposit. 

Always use new hot wallets. That’s why they’re called hot