Ethereum co-founder Jeff Wilcke confirmed selling off 90k ETH, causing the price to tumble

As AZCoin News reported, about 90k ETH was transferred to the Kraken exchange mysteriously because an Ethereum co-founder was looking to withdraw money quietly.

Jeff Wilcke confirmed selling off Ethereum

We can now firmly assert that it is the co-founder of Ethereum, who skillfully sold all his ETH money during the holiday.

On Christmas day, more than 204,000 ETH was transferred to various exchanges in a mysterious transfer involving Vitalik Buterin himself. Many have speculated that ETH is owned by Buterin or by an Ethereum developer. 90,000 ETH has been sent to Kraken, which is now linked with the Ethereum co-founder.

Ethereum co-founder ETH

Ethereum co-founder Jeff Wilcke. Image via medium

The identity of the mysterious transferor is none other than Ethereum co-founder Jeff Wilcke. About 90,000 ETH ($ 11 million) owned by Wilcke has been sent to Kraken. The transfer was anonymous because Wilcke registered the Ethereum Name Service (ENS) two years ago. However, it is still unclear who is behind the other Ethereum transfers on Christmas day.

Wilcke took to Twitter to confirm that it was himself. He needs money to fund his ‘game.’ Although the tweet has now been deleted, it was captured in the screenshot.

It’s still unclear why Wilcke needs $ 11 million to fund his game, but it seems clear that he left the project entirely after withdrawing the money. He still owns a significant amount of Ethereum, but he has been altogether unavailable on Ethereum’s GitHub since March this year. He decided to enrich himself at Christmas, instead of transferring it back to the project.

The selling of Ethereum co-founder is still another mistake in a long list of issues that have emerged as the industry has become increasingly frustrating. Even Ethereum 2.0 will probably be delayed, maybe for years.

Repeat panic loops

Buterin did not participate in the discussion, which has made up the loop of rumors regarding ETH liquidation in recent days.

In an earlier interview in December, Buterin revealed that he sold 70,000 ETH in 2018 when the altcoin is trading around all-time highs. The proceeds are worth 100 million dollars.

Last week, the transfer of more than 789,000 ETH between the two wallets controlled by the Ponzi PlusToken program caused increased concern for the ETH price.

Psychology has become increasingly hostile to Ethereum as 2019 nears its end, developers receive sarcasm in managing the major update route of the network.

At the time of writing, the ETH price is sideways and is trading at $ 124.

Ethereum co-founder sell off ETH 2

ETH price. Source: Trading View

Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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