- Vitalik Buterin, co-founder of Ethereum, allegedly dumped 3,000 ETH recently.
- Reportedly, the dump took place after the fall of the FTX exchange.
- On-chain data reveals the dump took place in three transactions on Uniswap.
On-chain data suggests that Vitalik Buterin, co-founder of Ethereum, dumped 3,000 ETH on Uniswap after the fall of the FTX exchange. An on-chain analytical platform that goes by the name “Lookonchain” revealed the data and suggested why it belongs to Buterin.
However, Ethereum developer Evan Van Ness revealed Buterin’s confirmation that it isn’t his address. Lookonchain suggested that people can lie, but on-chain data cannot. It also added that if Buterin addressed the fact that it is not his address, he must know whose address it is.
Around 3,000 Ethereum were allegedly traded by Vitalik for about $3.75 million USDC. On November 12, the dump occurred over three transactions on the Uniswap V3 platform. On-chain data reveals that the selling price was $1,250.
Lookonchain reveals that the 3,000 ETH sold by the “0xe692” address was received 20 minutes before the sale. When Buterin moved 30,000 ETH from his wallet in May, there was speculation that the price of ETH, which was trading at $2,086 at the time, would reverse to the downside.
On-chain data reveals that Buterin transferred ETH to the same address for nearly 4 years. Lookonchain also questions who owns the wallet if it does not belong to Buterin or his family.
The transaction happened a few hours after FTX Exchange filed for bankruptcy, and the market was slumping.
Other blockchain observers debated the claim in response, with one pointing out that the wallet had previously received numerous transactions from Buterin’s “doxx’d address” and other quoting transactions on Etherscan with a wallet called “vb2.”
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