A mysterious Ethereum investor who participated in the initial coin offering (ICO) in 2014 suddenly moved all of his 8,000 ETH ($14.7 million) to a new address after eight years of inactivity.
The Whale Awakens That Time Bought 8,000 Ethereum for $2,400
The transaction was spotted by blockchain analytics firm Lookonchain, which tracks large and unusual cryptocurrency transfers. According to the data, the investor bought 8000 ETH for just $0.3 each during the Ethereum ICO held from July to September 2014.
The ICO raised $18 million in exchange for 60 million ETH and valued the project at $0.3 per token.
In other words, the altcoin whale in question paid $2,400 at that time for 8,000 ETH. This means that if the whale currently sells, it is 612.483% from this transaction.
The investor has not touched his ETH stash, which he transferred to a new address in a single transaction. The reason for the sudden move is unknown, but some think it may be related to the recent controversy involving Ledger, a popular hardware wallet provider.
Ledger has been criticized for its new feature called Recover, which allows users to restore their funds to a new device if their original device is lost or damaged. Ledger CEO said in his statement that this feature can also be used by security forces.
Although Ledger has given up on this move, it is possible to say that some investors are still uneasy.
*Not investment advice.