Blockchain sleuths have flagged the transfer of $1 million of ETH belonging to a wallet controlled by Ethereum (ETH) co-founder Vitalik Buterin as cryptocurrency markets remain depressed after widespread weekend losses.
— PeckShieldAlert (@PeckShieldAlert) August 21, 2023
The publicly labeled Ethereum wallet address vitalik.eth transferred 600 ETH on Aug. 21, with the address still holding over 3,900 ETH valued at $6.5 million as per data from Etherscan.
Blockchain data analysis from Lookonchain also revealed that vitalik.eth repaid 251,000 RAI tokens on Maker and withdrew 1,000 ETH, worth $1,67 million, hours before the movement of ETH to Coinbase.
— Lookonchain (@lookonchain) August 21, 2023
A number of prominent blockchain data aggregators and publications shared insights into the transfer of 600 ETH to United States-based cryptocurrency exchange Coinbase. The move caused a stir on social media in the hours after the transfer, with speculation around the transaction rife.
— Watcher.Guru (@WatcherGuru) August 21, 2023
As Cointelegraph has previously reported, Buterin has admitted to selling portions of his ETH holdings on separate occasions over the past five years and has also publicly dumped tokens he has received in unsolicited alt coin airdrops.