Ethereum Co-Founder Vitalik Buterin Moves 3,000 ETH to Secure Multi-Sig Wallet
Vitalik Buterin, co-founder of Ethereum, has recently transferred 3,000 Ether (ETH) to a multi-signature (multi-sig) safe wallet, a move that has sparked speculation about a possible donation. The transfer, valued at approximately $8 million, was made just a few hours ago.
The transaction began with a test transfer of 0.1 ETH to the destination wallet, followed by the larger transfer of 3,000 ETH. This activity, tracked by Look On Chain, suggests that Buterin may be preparing for a charitable contribution.
According to Etherscan, the transaction incurred around 0.1 ETH in gas fees, roughly $270. This transfer aligns with Buterin’s earlier movement of 3,000 ETH to his vitalik.eth wallet on August 5.
Why Multi-Sig Wallets?
Multi-sig wallets are known for their enhanced security, requiring multiple private keys to authorize transactions or access assets. Buterin’s decision to use a multi-sig wallet underscores his commitment to privacy and security in handling significant amounts of cryptocurrency.
As of now, the vitalik.eth wallet holds just over 400 ETH, valued at approximately $1 million. This is a substantial decrease from its August 5 balance of 245,233 ETH, which had a market value of $571.72 million.
On the same day as the transfer, Buterin sold 17.145 billion Neiro tokens, which he had received from the Neiro team. He converted these tokens into 44.53 ETH, equivalent to $112,500 at the time.
Buterin’s History of ETH Donations
This recent transfer is not the first time Buterin has moved large amounts of ETH to a multi-sig wallet, raising questions about potential donations. In July, Buterin donated 100 ETH, valued at approximately $300,000, to the 2077 Collective, an organization focused on promoting Ethereum adoption.
Earlier this year, Buterin also contributed to the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm by donating 30 ETH. These donations were traced back to the vitalik.eth address, further suggesting that Buterin’s latest transfer might be another philanthropic act.
While the exact purpose of the 3,000 ETH transfer remains unclear, Buterin’s pattern of charitable giving continues to draw attention within the crypto community.
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