BlockBeats reported on June 19 that, according to monitoring by on-chain analyst Ai Yi (@ai_9684xtpa), an address linked to F2Pool co-founder Wang Chun has recorded a large on-chain movement. The monitored address, 0xF42…f2b51, withdrew 7,650 ETH and 124.18 WBTC from Binance over the past four hours. Based on the disclosed data, the total value of the two withdrawals was about $20.666 million.
Ai Yi described the activity as the linked address seemingly building positions in ETH and WBTC. The transfer involved both ETH and WBTC, with WBTC being a tokenized form of Bitcoin used on-chain. The figures cited in the monitoring show that the transaction covered a sizable amount of Ethereum-denominated assets as well as Bitcoin-linked assets.
The 7,650 ETH and 124.18 WBTC withdrawn from Binance have now been deposited into Spark. The available on-chain information in the report includes the address involved, the source of the withdrawal, the asset amounts, the estimated total value, and the destination after withdrawal. Beyond Ai Yi’s description that the address seemed to be accumulating ETH and WBTC, the input did not disclose any further operating plan or intended use of the funds.