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Unknown Institution Withdraws $412M in Ethereum from Kraken

According to Lookonchain, an unidentified entity moved 92,899 ETH worth about $412 million from Kraken into three new wallets within four days.

Summary

Blockchain analytics platform Lookonchain reported that an unidentified institution created three new cryptocurrency wallets and withdrew a total of 92,899 ETH from Kraken over the past four days. The withdrawn Ethereum is valued at approximately $412 million. The identity of the institution remains unknown.

Terms & Concepts
  • ETH (Ethereum): A decentralized, open-source blockchain featuring smart contract functionality, with its native cryptocurrency called Ether (ETH).
  • Wallet: A digital tool that allows users to store, send, and receive cryptocurrencies securely.
  • Kraken: A major cryptocurrency exchange where users can trade various digital assets, including Bitcoin and Ethereum.