Suspected Richard Heart Wallets Transfer $323 Million in Ethereum
The founder of HEX and PulseChain, Richard Heart, transferred ETH worth over $600 million to multiple new addresses, prompting speculation about his intentions amid ongoing wallet activity.
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Fact Check
Multiple credible sources, including an SEC press release and complaint, confirm that wallets associated with Richard Heart and his projects engaged in massive Ethereum transactions. News reports specify amounts in the hundreds of millions of dollars, with one source mentioning a $620 million move by associated wallets and another citing an SEC complaint detailing the movement of 2.3 million ETH. While the exact figure of $323 million is not explicitly stated in the provided evidence, the sources strongly corroborate transfers of this magnitude or even larger, making the statement's core claim substantially true.
Summary
Richard Heart, founder of HEX and PulseChain, moved Ethereum holdings worth $611 million from a previously inactive wallet to 10 new addresses within an hour. The wallet currently contains 154,825 ETH purchased at an average price of $3,779, representing an unrealized gain of approximately $25.79 million. The purpose behind the redistribution of these funds has not been disclosed.
Terms & Concepts
- Ethereum (ETH): A decentralized blockchain platform that supports smart contracts, with ETH serving as its native cryptocurrency.
- HEX: A blockchain-based certificate of deposit project founded by Richard Heart, designed to reward users for staking tokens.
- PulseChain: A blockchain network created by Richard Heart as an Ethereum fork aimed at reducing transaction costs and improving scalability.