Ethereum co-founder Secretly Sold $11M Worth of ETH on Christmas Day! Got Outed!

Ethereum co-founder, Jeff Wilcke, Secretly Sold $11M Worth of ETH

$11 million dollars worth of ETH was sold through Kraken crypto exchange on Christmas day. The identity of the individual who sold the ETH coins was a mystery until the Ethereum enthusiasts check the Ethereum Name Service (ENS) database. It turns out to be Ethereum’s co-founder, Jeff Wilcke.

It would be impossible to put a name or face to the person responsible for the large Ethereum dump (90,000 ETH) if it was not for Ethereum Name Service (ENS). To show transparency, all Ethereum founders, including co-founder, Jeff Wilcke voluntarily signed up for the service.

Related Read: Ethereum Entering The Crypto Staking Market Is a Potential Industry Game Changer

According to their website,

“ENS is the Ethereum Name Service, a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS’s job is to map human-readable names like ‘alice. eth’ to machine-readable identifiers such as Ethereum addresses, content hashes, and metadata.”

The ETH transaction owner would have remained a mystery should Jeff Wilcke chose not to participate in the service a couple of years ago. Mr. Wilcke tried to secretly unload the ETH stash by doing the transaction on Christmas Day; when people from the crypto community is away from their computers and smartphones; spending and enjoying time with family members.

Ethereum co-founder Jeff Wilcke speaks out

Feeling remorseful or embarrassed, Jeff Wilcke admitted on Twitter he as the one who sold the 90,000 ETH coins worth $11m.

We do not know if there’s any truth to Mr. Wilcke’s claim that needed the fund for his game is true. It looks more he is cashing out his ETH stash on his way out entirely.

Also Read: CFTC Chairman, Heath Tarbert, During Interview, Warned Ethereum 2.0 Proof-of-Stake Could be Classified As Security

Although Jeff Wilcke still hold a large stash of Ethereum, he has not posted any updates on Ethereum’s GitHub page since March of 2019.

Mr Wilcke does not seem interested in growing or reinvent the project. After this trick he pulled on Christmas Day, it’s fair to say he’s now only looking to enrich himself at the expense of Ethereum investors.

Ethereum 2.0; announced earlier this year start to look more like a pump-and-dump scheme. The system upgrade will reportedly be delayed…possibly for many years.

Related Article: Ethereum Transactions Fees Soar to $40 on ETH Network as Project Owners Fight for Blocks

Bitcoin: A Guide for Beginners (Free e-book)
Learn the basics before diving into the world of bitcoin
I agree to have my email address transferred to MailChimp for CryptoZink updates ( more information )
We respect your privacy. We'll NEVER spam, share or sell your info!

You May Also Like