A wallet originating from the Ethereum (ETH) initial coin offering (ICO) in 2015 has stirred interest within the crypto community after a sudden and substantial transfer of funds.
This wallet, dormant since the ICO, executed a noteworthy transaction on Saturday, relocating its entire holding of 8,000 ETH to a newly generated address, as per on-chain data from Etherscan.
The fund movement occurred through two transactions. Initially, a test transaction of 1 ETH was made, followed by the subsequent transfer of the remaining 7,999 ETH.
In today’s market, these transfers amount to approximately $15.2 million, showcasing a remarkable surge in the wallet’s value since its establishment during the ICO, when the ETH within it was valued at only $2,500.
A notable aspect is that the newly designated wallet receiving the funds had recorded a distinct inbound transaction of 207 ETH, valued at nearly $400,000, just moments before the substantial transfer.
This preceding transaction originated from a wallet that had been inactive since 2017. The owner of this wallet and the reason for consolidating the funds remain unknown.
On Twitter, the on-chain researcher Lookonchain swiftly shared details about the initial transaction, prompting members of the crypto community to contribute their theories in the comments. One user speculated, “Maybe switch from Ledger,” alluding to the controversy surrounding Ledger’s new “Recover” service.
Considering Ledger’s introduction of its initial hardware wallet in 2014, it is plausible that the enigmatic Ethereum whale might be safeguarding their funds on one of the earlier versions of the device.