Unusual Activity Discovered Moving $500m on Ethereum Blockchain

By Warren Hayes | February 1, 2019
Unusual Activity Discovered Moving $500m on Ethereum Blockchain

ORS CryptoHound, an AI-based blockchain investigative and analytic tool, has brought to light its recent discovery that it found “highly unusual activity” occurring on the Ethereum blockchain which took place on December 1 last year.

According to ORS CryptoHound’s press release (Jan 23), it had analyzed 100 of the biggest Ethereum transactions for the last quarter of 2018 only to find odd behavior in six of the wealthiest wallets accounting for 5% of the world’s total Ethereum supply.

ORS CryptoHound said it observed the following interesting patterns:

  1. The wallets had all transferred a massive amount of Ether on the same day to the tune of nearly half a billion dollars.
  2. Addresses used all shared a similar profile: they each had OMG tokens that took up more than 90% of their portfolio.
  3. The wallets appeared to all be created on one same day, and showed that holdings had been run through many transactions.
  4. All the Ether moved eventually wound up in 39 new wallets containing exactly 150,000 ETH each.

One theory that ORS CryptoHound proposes is that a crypto whale, or whales, was trying to “fake decentralization”. The theory elaborates that the one or ones responsible for the transactions could be trying to separate ETH and OMG holdings to protect Ethereum’s brand. ORS CryptoHound did not venture to suggest who might have been behind the transactions.


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