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Dormant Ethereum Wallet Transfers 1,757 ETH to Kraken After Four Years

Dormant Ethereum Wallet Transfers 1,757 ETH to Kraken After Four Years

A major Ethereum holder recently withdrew 6,915 ETH from exchanges and later deposited 2,250 ETH into Bybit, potentially incurring a $607,000 loss.

ETH
WETH

Fact Check
The statement is strongly confirmed by all provided sources, including multiple reputable on-chain analytics platforms (Lookonchain, Nansen) and news outlets. The evidence consistently corroborates the transfer of 1,757 ETH from a wallet that was dormant for four years to the Kraken exchange.
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Summary

Between September 10 and 13, a major Ethereum address withdrew 6,915 ETH worth approximately $30.63 million from exchanges, with an average price of $4,430. The address later deposited 2,250 ETH into Bybit, facing a potential $607,000 loss if sold at the current price. Yesterday, it also sold 3,000 ETH at $4,385, and currently holds 7,554.7 WETH.

Terms & Concepts
  • ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and as a store of value.
  • WETH (Wrapped Ether): A tokenized version of Ether (ETH) that conforms to the ERC-20 token standard, used for decentralized finance (DeFi) applications.