A wallet linked to Vitalik Buterin moved 7,000 ETH to a new address after about 12 months of inactivity. The receiving wallet has not made outbound transfers, leaving the purpose of the trans
A wallet linked to Ethereum co-founder Vitalik Buterin moved 7,000 ETH worth about $11.06 million on June 27. According to Lookonchain and Onchain Lens, the transfer originated from the address identified as 0xD04, which had remained inactive for nearly a year. The funds moved to a newly created wallet, prompting market participants to closely monitor the destination address for additional activity.
https://twitter.com/lookonchain/status/2070799728028340494?s=20According to Lookonchain, the wallet transferred 7,000 ETH roughly two hours before the transaction was reported. Blockchain monitoring platform Onchain Lens also tracked the movement shortly after it appeared on Ethereum's network.
The transfer immediately attracted attention because of the wallet's connection to Vitalik Buterin. Additionally, the address had shown no notable activity for approximately 12 months before the latest transaction.
Following the transfer, the destination wallet held the entire amount. As of publication, the receiving address had not executed any outbound transactions. That activity led analysts to review the wallet's history. In turn, previous transactions offered clues about where the funds could eventually move.
According to Onchain Lens, the wallet has displayed similar behavior in the past. In an earlier transaction, the address moved 1,300 ETH valued at roughly $3.19 million.
Those funds later reached Paxos, a cryptocurrency infrastructure provider. Because of that sequence, some blockchain observers believe the latest transfer could eventually reach a centralized exchange.
However, no confirmed exchange deposit has occurred. The transferred ETH remained in the new wallet at the time of writing. Neither Buterin nor representatives connected to him publicly commented on the purpose of the transaction.
Despite the movement, the original wallet continues to hold substantial assets. After sending the 7,000 ETH, the address retained 20,001 ETH. Based on market prices at the time, those remaining holdings were worth about $31.6 million. Meanwhile, Ethereum traded near $1,583, reflecting a daily gain of roughly 2%.
Large transactions involving prominent blockchain figures often attract scrutiny because Ethereum's ledger remains publicly accessible. As a result, platforms such as Lookonchain and Onchain Lens can track major wallet movements in real time.
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