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Ethereum cryptocurrency owner earned more than $ 116 million after 8 years of inactivity

NEWS
11:37 am, July 19, 2023

The owner of Ethereum earned more than $ 116 million after 8 years of inactivity. This was reported by network analyst EmberCN on its Twitter page.

«Tonight, after 8 years of inactivity, the address 0x8b505E2871F7dEb7a63895208e8227dcAa1Bff05 transferred 61,216 ETH ($ 116 million) to the Kraken exchange account.

The user participated in the Ethereum ICO (initial coin offering) in 2015. At that time, he received 61,216 ETH from the genesis block at a price of $ 0.311 per token. Since then, the user has not made any transactions. Currently, ETH is trading for $ 1912, up 1.7% over the past day.

The sudden activation of the wallet intrigued members of the cryptocurrency community, who began trying to establish the identity of the wallet owner and the reason for the transfer. However, the name of the investor and the purpose of the transfer remain unknown.

This is not the first major bitcoin transaction in 2023. In early January, a bitcoin wallet that had not been active for almost four years suddenly moved about $ 250 million in cryptocurrency to another unknown BTC address. And in February, a BTC wallet that had been inactive for 11 years withdrew 412.12 BTC, leaving only 0.11 BTC on the account. A similar situation occurred in April: a bitcoin address that had been inactive for 9 years suddenly came out of hibernation. The owner of the wallet made a number of small transactions and one large-scale transaction of 6071 BTC.

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