There May Be a Selling Pressure in Ethereum That Will Shake the Price: Transaction Made After 7 Years!

Blockchain security firm Cyvers Alerts has clarified a situation that could create hundreds of millions of dollars of selling pressure on Ethereum.

Cyvers Alerts featured a remarkable research on May 13. Analyzing the Ethereums stolen in 2017 from the multi-signature wallet of Parity, the parent company of Polkadot (DOT), the company stated that the attackers who had been waiting patiently for about 7 years took action.

According to on-chain data, attackers mobilized 3,050 ETH of stolen assets worth $9 million.

Warning that the money laundering process has begun, the Cyvers Alerts front reminded that there are still 83,017 Ethereum worth $246.6 million in the wallet belonging to the attackers.

Although the amount held by the attackers is not very large compared to the daily Ethereum transaction volume, it is thought that such news may increase the downward pressure, especially on days when the market is negative.

Shares are for informational purposes only, not investment advice.

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