News - Is Vitalik Buterin selling large amounts of Ethereum?
Vitalik Buterin has moved US$1.4 million worth of Ethereum to exchanges. Is Buterin engaged in a huge sell-off?
The $1.4 million was sent within one week to centralized exchanges like Coinbase and Kraken. For example, he transferred 400 Ethereum to Coinbase. Is Buterin engaged in a huge sell-off, is there something more behind it?
This is not the first time this month. Last week, he transferred 600 to Coinbase and 300 to Kraken. Buterin also converted 200 Ethereum to the stablecoin USDC. Currently, it has little effect on the price as Ethereum continues to move sideways.
Last week, the Ethereum founder made negative headlines because his Twitter account was hacked. The incident resulted in the loss of digital assets worth nearly $700,000, plus NFTs from CryptoPunk. In a hacked post, the hackers claimed to be giving away free NFTs to celebrate an upcoming Ethereum update. Through the attached link, the cybercriminals gained control of the wallets of Buterin's unsuspecting followers.