Ethereum ICO Whale Transfers $154 Million in ETH to OKX in a Month

During the night of August 11-12, a whale who acquired 1 million ETH during the ICO transferred 5,000 coins ($13.2 million) to OKX. Over the month, the whale sent 48,500 ETH ($154 million) to the exchange at an average price of $3,176, according to analysts at Lookonchain. 

A whale who received 1M $ETH in #Ethereum ICO at a price of $0.31 deposited 5,000 $ETH($13.2M) to #OKX again 12 hours ago.

This whale has deposited 48,500 $ETH($154M) to #OKX at an average price of $3,176 in the past month.https://t.co/4AN8voWrFEhttps://t.co/u1zjZ01Ez4 pic.twitter.com/ZDsFCcFiTk

— Lookonchain (@lookonchain) August 12, 2024

The first transaction of 1 ETH from the mentioned address was recorded 35 days ago, likely as a test transfer to verify the address. 

Subsequently, the user periodically sent thousands of coins. The address still holds 15,600 ETH ($41.8 million).

The whale acquired ETH in 2015 at a rate of $0.311. According to EmberCN, the whale still controls “up to 682,000 ETH” ($1.8 billion) across various addresses. 

The identity behind the monitored wallet remains unknown. A community member suggested that the transactions might have been conducted by one of Ethereum’s co-founders: Vitalik Buterin, Joseph Lubin, or Anthony Di Iorio. 

Lubin, Vitalik or DiLorio burner wallet

— TJ (@_TeeJJ_) August 12, 2024

In April, an Ethereum ICO participant transferred 1,069 ETH to the Kraken exchange.

In March, a wallet dormant for nearly 12 years moved all its 500 BTC worth nearly $35 million. The user received the first cryptocurrency on July 14, 2012, at a price of $7.57.