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Sonic Team Wallet Transfers $2 Million in SONIC Tokens to New Address

According to OnchainSchool, two transfers totaling 24 million SONIC moved to a new address; the recipient now holds about $2 million amid withdrawals from Wintermute and exchanges.

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Summary

OnchainSchool reported Sonic’s main team wallet moved 24 million SONIC (≈$2 million) to a new address via two 12 million transfers. One occurred about four hours ago; another was reported five hours earlier. Earlier coverage described the transfers as about four hours apart. The new address now holds roughly $2 million amid withdrawals from Wintermute and several exchanges.

Terms & Concepts
  • SONIC: A cryptocurrency token referenced in the report; specific project details are not provided in the source.
  • Wintermute: A crypto market-making and trading firm that provides liquidity across digital asset exchanges.
  • Team wallet: A project-controlled address commonly used for treasury, operations, or token allocations.