A wallet linked to Ethereum co-founder Vitalik Buterin moved 7,000 ETH on June 27, with the transfer valued at about $11.06 million at the time. On-chain tracking platforms Lookonchain and Onchain Lens said the transaction came from the address identified as 0xD04, which had shown almost 12 months of inactivity before the move.
The ETH was sent to a newly created wallet. As of publication, that destination address had not made any outbound transfers, leaving the purpose of the transaction unknown. The wallet’s link to Buterin, combined with its long quiet period, quickly drew attention across the market.
The destination wallet remains inactive
Lookonchain said the transfer took place around two hours before it was reported. Onchain Lens also tracked the movement shortly after it appeared on Ethereum’s network. For now, the full amount remains parked in the receiving wallet, with no confirmed follow-up transactions.
Past activity from the same wallet has added to the scrutiny. According to Onchain Lens, the address previously moved 1,300 ETH in an earlier transaction, worth roughly $3.19 million at the time. Those funds later reached Paxos, a crypto infrastructure provider. Based on that earlier pattern, some blockchain watchers think the latest transfer could eventually end up at a centralized exchange.
The original wallet still holds 20,001 ETH
There is no confirmed exchange deposit yet. The transferred ETH remains in the new wallet, and neither Buterin nor anyone connected to him has publicly explained the reason for the transaction.
After sending out 7,000 ETH, the original address still held 20,001 ETH, valued at about $31.6 million based on market prices at the time. Ethereum was trading near $1,583, up about 2% on the day. Because Ethereum’s ledger is public, large transfers involving well-known figures are often tracked closely as soon as they appear on-chain.