Vitalik Buterin, co founder of the Ethereum (ETH) wallet reportedly dumped a huge amount of ETH tokens last weekend. A wallet tracker reported that Vitalik’s dumping transactions took place during the massive FTX crypto exchange hack.
Is Vitalik Buterin selling in FUD?
As per MistTrack, Vitalik exchanged around 3,000 Ethereum for around $4 million USDC. The transaction was proceeded on the Uniswap V3 in the three transactions on November 12.
Interestingly, Vitalik’s dump came when the crypto world was fighting with the FTX hack and crisis. Data depicts that Ethereum was trading at an average price of $1,261 on that day.
ETH prices have dropped by more than 18% over the past 7 days. Ethereum is trading at an average price of $1,281, at the press time. However, its prices are up by 3% in the last 24 hours.
Coingape reported that FTX, a crypto exchange was hit by a massive hack as hackers outflowed over $600 million in multiple transactions. The withdrawals were swapped from Tether to
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