After eight years of dormancy, an Ethereum wallet that participated in the cryptocurrency's 2015 initial coin offering (ICO) has suddenly awoken, transferring all 8,000 of its Ether to a new wallet address.
The wallet had remained inactive since the ICO. Blockchain analytics service Lookonchain noticed the transfer and some have speculated about the reason for it, suggesting humourously that the owner had transferred funds from an old Ledger, or seriously that the owner may have been released from prison.
The $ETH was purchased in the ICO for just $0.31 per token, marking a gain of 590,000% for the owner at the current price of around $1,917 per token.
Recently, there have been multiple instances of ICO-era Ether wallets re-awakening. On April 24, a wallet with 2,365 ETH ($4.5 million) re-awakened after nearly 8 years of dormancy. The owner transferred 2,360 ETH to a new wallet address. Similarly, on March 5, another ETH wallet transferred 10,226 ETH ($19.6 million) after being inactive for five years.
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