Ethereum rose above $2,300 again, but a coordinated wallet leak sent further shockwaves through an already fragile market. The extent of the damage is not yet fully known, but what has been confirmed so far is enough to worry even long-term investors.
BSCN noted on May 1 that assets from hundreds of wallets on the Ethereum mainnet, including wallets that have been inactive for more than seven years, were being simultaneously transferred to a single address. The transaction pattern indicates that a single attacker is exploiting what may be a previously unknown security vulnerability.
SLEEPING ETHEREUM WALLETS VIDEOS IN SUSPECTED LIVE EXPLOIT
Hundreds of Ethereum $ETH The wallets, many of which have been inactive for years, were emptied by the same Ethereum address, according to Coin Bureau. The activity indicates a possible exploit in progress on the network.
Some affected wallets had… pic.twitter.com/vWe4xO2gpD– BSCN (@BSCNews) May 1, 2026
Security researchers are currently working to trace the address and financial flows, and reports indicate that the activity is still ongoing. The question remains: is this an isolated incident or the first step towards something bigger?
Can Ethereum Price Consolidate Above $2,300 Next Week?
The current state of ETH does not offer much comfort; At $2,300, the asset is below the 5-day simple moving averages (SMA) at $2,308, 10-day at $2,320, and 21-day at $2,312. More seriously, the 200-day moving average at $2,755 is sending sell signals. The only technical bright spots are the 50-day and 100-day moving averages, which are currently providing marginal support from below.
In reality, Ethereum and the entire crypto market have been in a sideways slump for several months, indicating possible seller exhaustion. However, exhaustion alone does not lead to a price reversal, although the moving averages indicator shows a “buy” signal.
Derivatives add to the anxiety, as long positions dominate futures, but negative funding rates indicate a decline in conviction behind these positions.
The upcoming move depends on whether ETH can hold the $2,200 support. If successful, the price is expected to settle above $2,300 and retest the $2,400 level. Once we consolidate above $2,400, this will open a longer path to recovery targets at $2,700.
However, if the root cause of the vulnerability is not identified quickly, security premiums will decrease and turnover of assets off the network will accelerate.
Bitcoin Hyper targets Bitcoin security
When the discourse on the security of the Ethereum network cracks, capital does not disappear, it moves. Currently, some of these investments are directed towards infrastructure projects based on more solid technical foundations.
The Bitcoin Hyper ($HYPER) project stands out in this scene as the first layer 2 of Bitcoin to integrate the Solana Virtual Machine (SVM), offering sub-second transaction finality and low-cost smart contract execution, while retaining Bitcoin’s core security model.
Hyper addresses Bitcoin’s inherent limitations such as slow transactions, high fees, and lack of programmability through a uniform architecture. The presale has already been collected $32.5 million At the current price of $0.0136With staking option available for early participants.
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