Unknown user burns tokens and NFTs worth $3.6 million

An unknown user with the identifier nd4.eth burned GMX and GNS worth $3.59 million, as well as several valuable невзаимозаменяемых токенов.

According to Arkham Intelligence analysts, the user sent to the burn address NFTs from the Bored Ape Yacht Club collection (#289 and #71), Mutant Ape Yacht Club (#3573, #1826 and #1368) and Crypto Punk (#5237), valued at about $225,000.

He also burned one token each of BAYC, MAYC and BAKC for $88,000.

On July 26, nd4.eth burned 2,500 ETH (~$4.58 million at the time of the transaction) for no obvious reason. Later he spent 5,330 stablecoins DAI to buy GMX and GNS tokens. On the same day, the user burned 1.5 ETH, 600 GNS and 34.9 GMX for about $7,000.

“Since January this year, nd4.eth bought GNS for $1.8 million and GMX for over $1 million via Uniswap. He decided to burn all these assets in the last two hours — with no explanation so far,” Arkham noted.

Analysts say the user’s trading volume on Binance exceeds $20 million, and on Uniswap—$25 million.

In February, NFT collector Brandon Riley accidentally sent CryptoPunk #685 to the burn address. He purchased the token for 77 ETH — about $129,000 at the time.

In June, a group of Bitcoin enthusiasts specifically burned CryptoPunk #8611 worth $94,000. Later, based on the destroyed token, the inscription Ordinals appeared.