Ethereum Foundation's Dormant Address Awakens, Transfers $290 Million in ETH

IconCryptoNewsTerminal Staff25 Jul, 2024

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Ethereum Foundation's Dormant Address Awakens, Transfers $290 Million in ETH

After seven years of dormancy, an Ethereum Foundation address has sprung back to life, transferring a hefty sum of 92,500 ETH (approximately $290 million). This development was brought to light by the crypto analytics firm Arkham Intelligence. However, the mystery deepens as the receiving address remains inert, leaving no trace of further transactions. The Ethereum Foundation has not yet commented on the matter, leaving the crypto community speculating about the nature of this enigmatic transaction. Arkham Intelligence, while noting the sizable amount transferred, expresses caution in directly attributing the movement to the Ethereum Foundation.

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