Capturing the attention of the crypto community, a long-dormant Ethereum (ETH) wallet connected to the 2015 initial coin offering (ICO) has unexpectedly become active.

The recent fund transfers from this untouched wallet have stirred excitement in the community.

Wallet Resurfaces and Transfers Funds

On Saturday, the dormant wallet, as revealed by on-chain data from Etherscan, executed two transactions. Initially, a test transfer of 1 ETH was sent to a newly created address. Shortly thereafter, the remaining 7,999 ETH were transferred. This resulted in a total value of approximately $15.2 million at the current exchange rates. It is noteworthy that during the ICO, the wallet was initially set up with ETH valued at a mere $2,500.

Uncovering an Intriguing Connection

Intriguingly, someone directed the funds to a recently created wallet that had received a separate inbound transaction of 207 ETH worth nearly $400,000 just moments earlier. This wallet, dormant since 2017, adds an air of mystery as its owner and purpose remain unknown.

Uncovering an Intriguing Connection

Promptly sharing details on Twitter, the on-chain researcher Lookonchain ignited discussions about the original transaction. Crypto enthusiasts eagerly seized the opportunity to express their theories regarding the transfer. One user speculated that the wallet’s owner may have switched from Ledger, alluding to the recent controversy surrounding Ledger’s “Recover” service.

Crypto coins with a ledger to represent speculations on long-dormant Ethereum found

A Possible Connection to Ledger

Ledger, the hardware wallet manufacturer, introduced its first version in 2014.

Given the timeline, it is plausible to consider that the enigmatic Ethereum whale stored their funds on one of the earlier iterations of Ledger’s device.

Although this theory remains purely speculative, it adds an intriguing dimension to the unfolding story

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