Unidentified Whale Account ‘0xd275e’ Caught in Multiple Crypto Industry Events

The recent on-chain activity of the Ethereum address ‘0xd275e’ has caught the attention of the crypto community. The whale account has been identified during on-chain analysis of both the FTX collapse, Tether depeg, and now the movement of $75 million back onto crypto exchanges.

Active Participation in DeFi Ecosystem

According to a tweet from Spot On Chain, the address deposited 1,140 WBTC ($32.89M) to Bitfinex and 15,000 ETH ($27.17M) to Binance, Coinbase, and Kraken within a span of 1.5 hours on June 21. These transactions involve Aave interest-bearing Wrapped Ether (WETH), Wrapped Bitcoin (WBTC), and USD Coin (USDC), confirming the active participation of this address in the DeFi ecosystem.

Previous Industry Analyses

The whale account has also appeared in previous industry analyses, according to Noah_nftn. In November 2022, the account claimed that former FTX employees disclosed that ‘0xd275e’ was involved in misappropriating customer funds. The account has also been actively transferring significant amounts of cryptocurrencies between major exchanges, potentially indicating manipulation activities, given its murky history.

Speculations on the Identity of the User

Lookonchain has previously speculated that ‘0xd275e’ might be related to Tether or the FTX Accounts Drainer, which would have significant implications for the industry. On June 15, it questioned whether the account might belong to Tether, while back in November 2022, it also suggested ‘0xd275’ could belong to FTX Co-Founder Sam Bankman-Fried.

CryptoSlate contacted Bitfinex and Tether concerning ‘0xd275’ but has not yet received a response. The account has only $827 in Tether-issued tokens as of press time.

While the account’s user remains a mystery, the wallet itself appears to be at the center of some of the most high-profile crypto events of the past nine months. While there is no concrete evidence to support the claims of the misappropriation of customer funds or connections to Tether or the FTX Accounts Drainer at this time, the account’s active participation in the DeFi ecosystem and its involvement in key industry events have raised concerns about potential manipulation activities. The speculations on the identity of the user continue, but for now, the mystery remains unsolved.