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Ethereum Co-Founder Vitalik Buterin's Recent $3.9 Million Crypto Transfers Raise Questions

Vitalik Buterin's Ethereum transactions of over $3.9 million in September 2023 draw attention.

Tue, 26 Sep 2023, 01:08 am UTC

Recent analysis of blockchain activities has unveiled several Ethereum transactions linked to Vitalik Buterin, Ethereum's co-founder. In September 2023 alone, transactions summing up to over $3.9 million have been identified.

On September 25, a particular transaction raised eyebrows when 400 ETH, equivalent to $632,000, moved from Buterin's wallet to the Coinbase exchange. Data compiled by the blockchain analytics service, Spot On Chain, suggests this isn't an isolated event. Over the past 10 days, starting from September 15, Buterin has moved approximately 2,421 ETH, or $3.94 million, to various centralized exchanges.

Spot On Chain also reported multiple deposits over the course of a few days. Notably, 321 ETH was sent to Kraken between September 15 and September 19. Additionally, Bitstamp received multiple deposits from Buterin's wallet amounting to 1,700 ETH on September 17 and September 20. On September 19, Paxos recorded a deposit of 500 ETH.

Further examination by Cointelegraph using the Nansen 2 beta’s wallet profiler confirmed many of these transactions. Intriguingly, blockchain records also revealed a significant transfer of 2,000 ETH, valued at $4.9 million. This transfer was to the address engaged in the aforementioned transactions from another address closely tied to Buterin. Spot On Chain noted that the originating address for this 2,000 ETH transfer is more commonly associated with Buterin than the secondary address used in the recent spate of transfers.

It's worth mentioning that this isn't the first time such transfers have been observed. A transaction involving 600 ETH, valued at around $1 million, from the vitalik.eth address was recorded on August 21, as indicated by on-chain monitoring tools.

Blockchain analysts continue to monitor these activities, emphasizing the transparency that blockchain technology brings to financial transactions.

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