Dormant Ethereum Whale Wallet Moves Millions Through Tornado Cash After Years of Inactivity
A long-dormant Ethereum whale wallet, created during the pre-mine phase in 2015, has reactivated for the first time in nearly a decade. This wallet, initially holding 2,153 ETH (then valued around $667), transferred 30 ETH (about $75,970) to another address on May 24, 2025. The receiving address subsequently split and routed the funds through Tornado Cash, a privacy-centric crypto mixer. Previously, on May 23, a different dormant Ethereum address transferred 2,500 ETH (estimated at $6.65 million) to Kraken, marking its first trading activity in four years. The original whale wallet still retains over 2,100 ETH, now worth more than $5.2 million. These sudden transfers from early holders and use of privacy tools like Tornado Cash have prompted speculation among crypto traders about the motives and identities behind these moves, including conjecture regarding Ethereum co-founder Vitalik Buterin—though no direct link has been proven. Such notable movements from OG Ethereum addresses are closely watched by traders, as they could impact Ethereum price and market sentiment. The events highlight growing concerns over privacy-driven withdrawals and the potential for increased liquidity or market volatility stemming from the reactivation of long-inactive wallets.
Neutral
The recent awakening and transfers from long-dormant Ethereum whale wallets signal possible changes in market behavior, but there is limited evidence of immediate bullish or bearish momentum. While such large movements can indicate shifts in holder sentiment or liquidity influxes, the amount transferred relative to the whale’s total holdings is small, and there is no proof of further selling pressure. The use of Tornado Cash points to privacy-seeking motives, which may not instantly impact price, but raises concerns over larger, less transparent outflows in the future. Historically, these events attract trader attention and can increase short-term volatility, yet without a significant sell-off or additional movements, the impact on Ethereum’s overall market dynamics remains neutral.