An early investor in the Ethereum blockchain brought over 60,000 ETH to the exchange

The cryptocurrency wallet of one of the early investors of the Ethereum network brought more than $115 million to Kraken after eight years of "hibernation"

One of the earliest participants in the initial coin offering (ICO) on the Ethereum network withdrew his savings to the exchange after eight years of inactivity. This drew the attention of the Twitter account Lookonchain.

As the researchers found out, the investor received 61,216 ETH through the ICO at the then rate of ~$0.31. Under what conditions he received the cryptocurrency is unclear. Then the amount was estimated at less than $19,000, but at the exchange rate at the time of the withdrawal of ETH to the exchange, the declared volume is estimated at $116.3 million. It is unclear whether the investor sold his savings or decided to use exchange-traded staking services.

This is far from the first time that wallets participating in the ICO of the Ethereum network are awakened. In April 2023, Lookonchain analysts also reported on the activity of another Ethereum wallet, which has also been dormant for eight years. However, that wallet did not withdraw all its savings (it received 2365 ETH through the ICO), but only transferred 1 ETH to a third-party address.

Recall that Ethereum developers attracted investments for the development of the ecosystem in the form of a sale of ether (ETH) in 2014. Then the developers attracted about 31,500 BTC, which at that time was just over $18.3 million.

The full list of participants in the then ICO is still unknown. Gavin Wood (who later founded the Polkadot ecosystem), Charles Hoskinson (who founded Cardano), and Anthony Di Iorio (head of the blockchain firm Decentral and the associated Jaxx wallet) took part in the development of the network, but their share in the project is unclear.