Another Wallet Linked to Vitalik Buterin Sold 1,300 ETH in 11 Days
Date: 2024-09-30 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
A wallet linked to Vitalik Buterin has sold over $3 million worth of Ether over the past 11 days.
On September 30, analytics platform Spot On Chain reported a transfer of 649 ETH (approximately $1.72 million) to the Paxos crypto exchange. This transfer ended a series of sales that began after the Ethereum co-founder funded the wallet.
A wallet identified as “0x556” received 1,300 ETH (approximately $3.21 million) on September 19 from another wallet, “0xd04,” which is allegedly controlled by Buterin. In 2022, this wallet was reportedly replenished by Vitalik with 70,000 ETH.
This is not the first time these wallets have exchanged funds. According to blockchain information, in September 2023, “0xd04” sent 2,000 ETH (around $5.27 million), and earlier that month, 999 ETH worth $2.63 million was transferred. In addition, in August of the same year, 1,701 ETH was transferred, valued at $4.47 million. The total amount of ETH transferred is 5,999 ETH.
Also Read: Wallet Linked to Vitalik Buterin Sold $2.2 Million in ETH in 12 Days
At the time of publication, the wallet “0x556” has not been officially listed as belonging to Buterin, but in September 2023, Spot On Chain suggested that he was behind the transfer of over 2,000 ETH to the Bitstamp exchange.
Some users have speculated that Buterin is trying to profit from these sales, but he has repeatedly denied such allegations, saying that he has not sold ETH for personal gain since 2018.
Earlier this month, concerns were raised that another wallet that received 3,800 ETH from Buterin in August was actively selling those funds. Vitalik later clarified that these transactions were carried out by a “biodefense group” that he funds.
In addition, he noted that all sales of ether from wallets associated with it are aimed at supporting projects important for the Ethereum ecosystem or for charity.
Amid these events, Vitalik Buterin was also criticized for his excessive influence on the development of Ethereum. Cardano founder Charles Hoskinson even compared the governance model of this cryptocurrency to a "dictatorship" where Buterin makes all the key decisions.
