After 8 years, unused pre-mined Ethereum coins worth $116M become active again

After 8 years, a wallet containing pre-mined Ethereum tokens worth $116 million became active.

These tokens were obtained during a sale event when ETH was starting, and they were worth about $20 million back then. Now, the tokens are worth much more.

Image by AI

The owner of the wallet transferred the tokens to a Kraken exchange address. They did this carefully to avoid any mistakes and tested a small transaction first.

Meanwhile, Ethereum’s co-founder, Vitalik Buterin, talked about challenges in implementing new features on the blockchain during a conference in Paris. He mentioned the benefits of account abstraction, but also the need for improvements to user accounts and layer-2 solutions.

Vitalik Buterin talks about Eth’s account abstraction challenges at EthCC conference

Oasis debuts Sapphire, an Eth-compatible privacy blockchain

Unstoppable Domains partners with Ethereum Name Service to offer .eth domains