[ad_1]
The inactive wallet that bought 8,000 ether ($14.8 million) in the Ethereum ICO in 2015 has woken up and transferred the funds to another address.
The wallet first performs a test transaction with 1 ether ($1,845) before sending the remaining 7,999 ether to an address, such as see by on-chain analyst Lookonchain.
When owners participate in the Ethereum ICO, or initial coin offering, funds are purchased for about $0.31 per token, or only about $2,500 in total. That means the owner has a 591,900% return on investment at current prices.
Funds have been moved to another wallet with limited transaction history. The only other movement in the wallet was a 207 ether ($380,000) incoming transaction made just minutes earlier. These funds were sent from another wallet which has been inactive since 2017.
It is not clear why these Ethereum ICO participants are consolidating some — or all — of their funds into a single wallet. They don’t appear to be shipped to exchanges and haven’t been sold on-chain.
This type of movement had occurred several times in the past. In December, two addresses moved $27 million ether, part of which came from the Ethereum ICO. In April, another ICO participant moved funds of IDR 4.4 million.
© 2023 Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[ad_2]
Source link
