F2Pool co-founder Wang Chun reportedly transferred some of his WBTC. $ETH I bought it on Binance from June and made a profit of about $3.4 million at current prices.
According to on-chain data, Wang Chun purchased approximately 70,600 pieces $ETH 966WBTC in June. The total value of these acquisitions is estimated to be approximately $117 million. $ETH and approximately $60.29 million to WBTC.
Wang Chun reportedly transferred $36,600 as the cryptocurrency market recovered in July. $ETH Recently, 160 WBTC was transferred to Binance. These transfers are believed to be aimed at locking in profits after the sharp decline seen in June.
Meanwhile, another important transaction that caught the attention of the market was from a wallet allegedly linked to Mining Express. Approximately 16 hours ago, this wallet reportedly exchanged $5,004 $ETH Approximately 8.8 million DAI.
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Blockchain researcher Spector said he first identified the address on June 15, but recently completed a detailed tracking and analysis process. Specter also shared multiple wallets linked to verify the address.
This massive $ETH Swaps have raised questions in the market regarding past movement of funds and potential liquidation motives. According to Specter’s analysis, this address is linked on-chain to the Mining Express project launched in Ukraine in 2019 by Brazilian founder Kaze Fujiyama.
Mining Express initially attracted investors with a multi-level marketing model, but was later accused of being a pyramid scheme. After stopping repayments, the project shifted its focus to cloud rendering and similar business models.
Historical on-chain records show that the wallet in question received 4,512. $ETH Accessed from the linked address on March 19, 2024 and subsequently staked these assets via Lido and Ether.fi. As of April 2026, all $ETH It was staked, but was completely unstaked on May 4th.
*This is not investment advice.
