Ethereum Shock: 63,539 ETH ($253M) Withdrawn from BitGo and Kraken, Likely Linked to BitMine
ETH/USDT
$37,939,871,804.04
$2,293.99 / $2,068.20
Change: $225.79 (10.92%)
+0.0040%
Longs pay
COINOTAG News, citing OnchainLens, reported that three newly created wallet addresses collectively withdrew 63,539 ETH (about $253 million) from custody at BitGo and Kraken. The move, observed on October 21, signals a notable ETH liquidity shift within the ecosystem. The source of funds and ultimate beneficiaries remain unconfirmed, and attribution has yet to be disclosed.
Implicated wallets are: 0x5c9244E0C43403D2F8bD6F9757c51F582Fb3004F0, 0x4A9775F32f82a44Dd0eC529a9734f48Fd3B514D50, and 0x8Af012303a016EcA3C6ebEEF6Ec36bDB2E576D13. While some observers speculate a linkage to Bitmine, there is no verified confirmation.
From a market perspective, analysts caution traders to monitor on-chain activity, reserve movements on major exchanges, and potential vesting schedules. The episode underscores ongoing risk management considerations for custody providers and institutional players.