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Dormant Ethereum ICO Address Transfers $119.4M After 10+ Years; Bitmine-Linked Entity Receives $50.1M

A dormant Ethereum ICO address holding 40,000 ETH was reactivated after over 10 years, transferring 39,995 ETH valued at approximately $119.4 million, Hyperinsight data show on Nov. 30. The address originally acquired the tokens during the ICO phase for about $12,400, representing a cumulative gain of roughly 9,639x at current prices. Separately, a new address linked to institutional holder Bitmine received 16,693 ETH worth $50.1 million from FalconX, while an entity identified as the '1011 insider whale' closed a 5x leveraged short position of 5,000 ETH for a $55,000 profit, with entry at $3,001.81 and exit at $2,989.85.
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