Onchain Lens reported an on-chain movement where a new wallet received 329,444 ETH from Kraken’s hot wallet, representing roughly $1.48 billion at prevailing prices. The receiving wallet address has not been publicly identified, and custodial control remains unconfirmed, including the possibility it is retained by Kraken itself. Market observers and compliance teams should note the transfer as a material Ethereum liquidity event for monitoring purposes, while avoiding attributions of intent. All figures are based on on-chain data captured by Onchain Lens and reflect recorded blockchain movements rather than off-chain statements or confirmations.