Ethereum Co-Founder Vitalik Buterin Makes Another Multi-Million Dollar ETH Transfer

In a recent move, the co-founder of Ethereum, Vitalik Buterin, transferred 3,000 ETH, equivalent to approximately $4.9 million, to a Vb 2 labeled address 0x1Db3439a222C519ab44bb1144fC28167b4Fa6E.

According to data from Etherscan, the transaction took place on Aug. 28. It was sent to the Vb 2 labeled address, bringing the total value of ETH that the wallet holds to approximately 3,018 ETH, worth just under $5 million.

#PeckShield vitalik.eth labeled-address has transferred 3K $ETH (~$4.95M) to Vb 2 labeled-address pic.twitter.com/f8ETU42TrD

— PeckShield (@PeckShield) August 28, 2023

• Following the transaction from Buterin’s publicly labeled Ethereum wallet, Vitalik.eth, Ethereum’s price remained steady at $1,640 with a 24-hour trading volume of $3,489,394,171, according to data from CoinGecko.
• The transaction is currently covered in mystery, leaving the crypto community speculating about the reasons and the potential impact. As of now, the identity of the recipient and the intent behind the transfer remain undisclosed.
• Notably, Buterin has been known to offload chunks of his ETH holdings over the past five years and has also publicly discarded tokens received in unplanned altcoin airdrops.
• The development comes after Vitalik Buterin recently transferred 600 ETH, roughly valued at $1 million, to the U.S. exchange platform Coinbase.