According to ChainCatcher, on-chain monitoring platform Lookonchain detected that about 6 hours ago, the hacker address linked to the Pando Rings protocol attack (0x303...3d9F) conducted a large on-chain transaction. The address spent 10 million DAI stablecoins to purchase 6,243 ETH at an average price of approximately $1,602, with a total value of around $10 million.
Pando Rings is a decentralized lending protocol that previously suffered a hacker attack, leading to the identification of 0x303...3d9F as the primary attacker's address. With this move, the hacker converted $10 million worth of stablecoin DAI into the mainstream crypto asset ETH. DAI is a decentralized stablecoin issued by MakerDAO, pegged 1:1 to the US dollar. This large conversion was captured in real-time by on-chain monitors, significantly altering the hacker's on-chain asset portfolio.