According to latest tweet from the “Whale Alert”, live tracker for cryptocurrency transactions on Twitter, someone took out 80,000 Ethereum from Coinone exchange.
Coinone is Korea based cryptocurrency exchange running under coinone corp and according to coinmarketcap their daily trading volume is around $40 million dollar.
Looking at the 24 hour trading volume of the exchange, withdrawal of $11 million worth of Ethereum to unknown address is quite surprising. However the ETH address used for withdrawal was not a new one as Etherscan shows it has received two large chunks of ETH before also.
Address seem to be dormant for last one year as one of the large amount of ETH (180,000 ETH) was received 371 days ago while another 20,000 ETH was received 538 days ago. All of the ETH received ($40 million worth) by this address seem to be still inside the address and not even a single ETH was ever moved out of this address.
Movement of large amount of cryptocurrency is common these days however this particular transfer from comparatively small exchange seem surprising.
Exchange itself might be the owner of this address which they are using as cold wallet or some whale seems to be holding Ethereum for very long time being highly optimistic on its future.