40,000 ETH Transferred by Coinbase to Unknown Entity
CryptoNewsTerminal Staff22 Aug, 2024
40,000 ETH Transferred by Coinbase to Unknown Entity
Coinbase, one of the largest cryptocurrency exchanges, has transferred 40,000 ETH to an unknown entity. The transaction, which is worth $110 million, was flagged by Whale Alert, a blockchain tracking service. The transfer has raised eyebrows, as it is unclear who the recipient is or why Coinbase would send such a large amount of ETH to an unknown address. Some speculate that the transfer may be related to a hack or a security breach, while others believe that it could be a legitimate transaction. Coinbase has not yet commented on the transfer, and the recipient address has not been linked to any known entity. The transaction is still under investigation, and more details are expected to emerge in the coming days.
