Dormant Ethereum Wallet Moves $229M Before Crash

A long-dormant Ethereum wallet suddenly sprang to life just before a sharp market downturn, moving a massive stash of ETH to Bitfinex.

Blockchain analysts at Lookonchain revealed that this anonymous trader, inactive for six years, transferred 77,736 ETH—worth nearly $229 million at the time—right before Ethereum’s price plunged to around $2,100.

Interestingly, the same wallet had originally withdrawn this ETH from Bitfinex back in 2019, when it was valued at just $11.9 million, suggesting a significant profit.

Meanwhile, some major investors took advantage of the dip. A well-known entity, “7 Siblings,” reportedly scooped up 50,429 ETH, spending around $126 million.

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This isn’t the first time they’ve made such a move—back in August, they quietly acquired $129 million worth of ETH when prices neared $2,300, strategically buying throughout the crash.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.