The post Terraform Labs Shocks Crypto Community with Million-Dollar Token Transfer appeared first on Coinpedia Fintech News
The crypto community was left stunned when Terraform Labs, co-founded by Do Kwon and Daniel Shin, executed a substantial transfer of Convex Finance (CVX) tokens to another wallet on May 9.
Awakening the Sleeping Wallet
Terraform Labs, recognized as a major holder of Convex Finance (CVX) tokens, had locked a considerable number of tokens in the previous year. Data from Etherscan reveals that on May 9th, a wallet linked to Terraform Labs moved 1.8 million CVX tokens, estimated to be worth around $8.7 million, to another wallet starting with the address 0x15A5. This transaction marked the end of a 277-day inactive period for the wallet.
A smaller transaction of 100 CVX tokens was also sent to the 0x15A5 wallet address by Terraform Labs. As a result of these transfers, the wallet no longer holds any CVX tokens but does contain Convex CRV (cvxCRV) tokens valued at appr
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