Vitalik Buterin's wallet transfers 400 ETH valued at $600,000 to Coinbase: Report
ETH transactions linked to Vitalik Buterin's wallet in September 2023 raise alarms: $1,574 total, $632,000 to Coinbase.
Highlights
- Vitalik Buterin's $3.9M crypto transactions raises concerns among investigators
- Spot On Chain finds Buterin's major ETH deposits to exchanges from September 15th
Blockchain investigators have red-flagged multiple Ethereum (ETH) transactions, amounting to $1,574, involving a wallet linked to Ethereum co-founder Vitalik Buterin in September 2023. These transactions total over $3.9 million and include a separate 400 ETH transfer, valued at approximately $632,000, from Buterin's wallet to Coinbase on 25 September.
Spot On Chain, a blockchain analytics platform, has revealed that Buterin's recent transaction is part of a series of ETH deposits to centralised exchanges over the past 10 days. According to their estimates, Buterin has deposited around 2,421 ETH (equivalent to $3.94 million) since September 15th.
Buterin's cryptocurrency movements under intense scrutiny
The platform details deposits of 321 ETH into Kraken between 15 September and 19 September. Additionally, it has been reported that Buterin made deposits of 1,700 ETH into Bitstamp through multiple transactions on both 17 September and 20 September, and a separate deposit of 500 ETH was made to Paxos on 19 September.
These transactions have been verified using the Nansen 2 beta's wallet profiler. Blockchain data also highlights a transfer of 2,000 ETH (equivalent to $4.9 million) to the address responsible for these transactions, originating from another wallet long associated with Ethereum's co-founder.
Spot On Chain notes that the source of the 2,000 ETH transaction is a more well-known address (0xD04daa65144b97F147fbc9a9B45E741dF0A28fd7) belonging to Buterin, as opposed to the intermediary address (0x5567A4bE2D5b77F5Fd870f99Ed9167Feab8831B1) responsible for transferring funds to exchanges.
In short, blockchain analysts are closely monitoring a series of high-value ETH transactions originating from Vitalik Buterin's wallet. These transactions raise questions about the purpose behind these transfers, the destinations of the funds, and their potential implications for the cryptocurrency market.
The involvement of a well-known address linked to Buterin in these transactions adds an intriguing layer of complexity to the investigation, prompting further scrutiny from the blockchain community.
