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Ethereum Foundation-linked wallet transfers 7,594 ETH to Kraken after a year of inactivity

An early Ethereum participant linked to the Ethereum Foundation has moved 7,594 ETH valued at roughly $17.79 million to Kraken following a year of dormancy, according to Lookonchain.

Screenshot of on-chain transaction records highlighting deposits of 7,584 ETH and 10 ETH to Kraken.
Image: @lookonchain

An early Ethereum participant linked to the Ethereum Foundation has deposited 7,594 ETH, valued at approximately $17.79 million, to crypto exchange Kraken following a year of inactivity, according to on-chain analytics platform Lookonchain.[1][2][3]

Transaction records shared from the wallet show that the funds were transferred in two deposits to a Kraken address: one transaction of 7,584 ETH worth about $17.77 million, and a second transaction of 10 ETH worth about $23,430. Prior to these transactions, the address had last deposited funds to Kraken roughly one year earlier.[2]

The wallet holder originally purchased 200,000 ETH for roughly $61,000 during the initial coin offering at a price of $0.31 per token. In addition to the ICO allocation, the wallet received 42,654 ETH directly from the Ethereum Foundation back when the cryptocurrency was trading at $13.82.[1][2][3]

Key facts

  • A wallet linked to the Ethereum Foundation transferred 7,594 ETH worth approximately $17.79 million to Kraken after a year of inactivity, per Lookonchain.
  • On-chain records indicate the recent deposit consisted of 7,584 ETH valued at $17.77 million and 10 ETH valued at $23,430.
  • The wallet previously executed multiple deposits to Kraken addresses approximately one year prior.
  • The wallet acquired 200,000 ETH during the Ethereum ICO for about $61,000 at a price of $0.31 per ETH.
  • The address also received 42,654 ETH from the Ethereum Foundation when ETH was priced at $13.82.

Sources 路 3 sources

  1. BS

    BSCN@BSCNewsPost on X 路

    Ethereum Foundation-Linked Wallet Cashes Out Millions in ETH An Ethereum OG linked to the Ethereum (@ethereum) Foundation has sold 7,594 ethereum:native worth $17.79 million, according to Lookonchain. The wallet had been inactive for a year. The holder reportedly bought 200,000 ETH during the ICO for just $61,000. The wallet also received 42,654 ETH from the Ethereum Foundation when ETH traded at $13.82.

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  2. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃ETHEREUM OG LINKED TO THE FOUNDATION SELLS 7,594 ETH AFTER A YEAR OF INACTIVITY! An Ethereum OG linked to the Ethereum Foundation sold 7,594 ethereum:native ($17.79M) after a year of no activity, per @lookonchain. This wallet bought 200,000 ethereum:native for just $61K during the 2014 ICO at $0.31 and also received 42,654 ethereum:native from the Ethereum Foundation when ETH was at $13.82.

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  3. LO

    Lookonchain@lookonchainPost on X 路

    A #EthereumOG linked to the #EthereumFoundation sold 7,594 $ETH ($17.79M) after a year of inactivity. This OG bought 200K $ETH(cost $61K) during the ICO at $0.31 and also received 42,654 $ETH from the #EthereumFoundation when $ETH was trading at $13.82. https://t.co/6erIaZzqaZ https://t.co/AZYx2wN9ts

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