According to Techub News, Decrypt reported that a spokesperson for Singapore's DBS Bank denied to Decrypt via email that it "held 173,700 ETH", saying that DBS Bank did not hold the above assets. Nansen analyst Edward Wilson said, "Nansen confirmed through multiple independent sources that DBS Bank has the private key to this wallet, and these assets are likely part of its custody solution." However, when asked whether the wallet was the one used by the bank to hold funds for its crypto clients, the spokesperson declined to comment.