F2Pool co-founder Wang Chun reportedly transferred some of his WBTC and $ETH June purchases at Binance, making a profit of around $3.4 million at current prices.
According to on-chain data, Wang Chun purchased around 70,600 $ETH and 966 WBTC in June. The total value of these purchases is estimated at approximately $117 million for $ETH and approximately $60.29 million for WBTC.
Following the recovery of the cryptocurrency market in July, Wang Chun reportedly transferred 36,600 $ETH and 160 WBTC to Binance in recent days. These transfers would be intended for profit taking after the lows observed in June.
On the other hand, another large transaction that gained attention in the market came from a wallet allegedly linked to Mining Express. About 16 hours ago this wallet would have traded 5,004 $ETH for approximately 8.8 million DAI.
Related news Warning for Bitcoin and Altcoins: Volatility could increase in the coming days
Blockchain researcher Specter said he first identified this address on June 15, but recently completed the detailed tracking and analysis process. Specter also shared several linked wallets to verify the address.
It’s on a large scale $ETH The swap has raised questions in the market regarding past fund movements and potential liquidation motivations. According to Specter’s analysis, the address has an on-chain connection to the Mining Express project, launched in Ukraine in 2019 by Brazilian founder Kaze Fuziyama.
Mining Express initially attracted investors with a multi-level marketing model, but was later accused of being a Ponzi scheme. After stopping refunds, the project focused on cloud rendering and similar business models.
Historical on-chain records show that the wallet in question received 4,512 $ETH from a linked address on March 19, 2024, then staked these assets via Lido and Ether.fi. Since April 2026, all $ETH was staked, and it was completely detached on May 4.
*This does not constitute investment advice.