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HomeCrypto NewsMultisig Address Created by Buterin Moves 40K ETH

Multisig Address Created by Buterin Moves 40K ETH

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A multisig wallet associated with Vitalik Buterin just transferred 40K ETH to an unknown address.

A multi-signature Ethereum wallet created by Ethereum co-founder Vitalik Buterin recently transferred about 40,000 ETH valued at $47.7M to an unidentified address. This transaction marks the first ETH outflow from the wallet address in over six months since the holders made a similar transfer of 30K ETH to the same unidentified wallet on May 16.

Chinese blockchain reporter Colin Wu on Twitter highlighted the recent development. “According to Etherscan, 40,000 ETH was transferred from the multisig address 0x22…3a9d created by Vitalik Buterin to 0xD04…8fd7,” Wu noted in a tweet Thursday, sharing an Etherscan link to the transaction.

Data from Etherscan reveals that the transaction occurred today at 1:42 PM (UTC). Following the outflow, the multisig wallet with the name tag Vb 3 – indicating an affiliation with Vitalik Buterin – currently holds 250K ETH valued at $298.5M, making it the 25th largest ETH holder at the time of reporting.

A close look at the on-chain activities of the wallet reveals that holders made a similar transfer to the same unidentified wallet address on May 16 amid the panic triggered by the Terra collapse. The previous transaction involved a transfer of 30K ETH to the same wallet address. The unidentified wallet currently holds a balance of 64,301 ETH worth $76.7M. It bears mentioning that this wallet has only received transfers from the Vb 3 address. 

This recent on-chain movement from the Buterin-affiliated address comes ten days after reports of a selloff that allegedly saw the Ethereum co-founder swap 3,000 ETH for USDC on Uniswap V3 surfaced. The transaction attracted mixed reactions from the community, considering its timing, as The Crypto Basic reported

Notwithstanding, a prominent Ethereum community member by the name of Evan Van Ness came up barely 24 hours after the reports to dispel claims of Buterin’s association with the selloff. According to Evan, Buterin told him the address involved does not belong to him. Buterin never officially spoke about the matter.

This latest transfer has triggered a trail of comments from community members. Despite not taking the form of a selloff, it raises questions on the reason behind the outflow and the purpose of the unidentified recipient wallet, which recently transferred 5,700 ETH out 12 days ago.

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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