Hundreds of dormant ETH wallets drained in suspected live exploit — $2,300 support now under pressure.

Assets from hundreds of Ethereum mainnet wallets — some inactive for over seven years — were simultaneously swept to a single address on May 1, according to BSCN and Coin Bureau. The transaction pattern points to a single attacker potentially exploiting an unknown vulnerability, with security researchers still actively tracking fund flows and activity reportedly ongoing.

The timing hits <a class="ticker-mention" href="/en-US/token/eth">ETH</a> at a technically fragile moment. The asset is trading around $2,300, sitting below its SMA 5, SMA 10, SMA 21, and well beneath its 200-day moving average of $2,755 — all flashing sell signals. The only marginal support comes from the SMA 50 and SMA 100 below current price. Derivatives add another layer of concern: long positions dominate futures, but negative funding rates signal fading conviction.

The key level to watch is $2,200. A hold there opens a path toward stabilisation above $2,300 and a…