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Unknown trader made over $200 million in a few months of cryptocurrency trading

12 July 2017 09:30, UTC
$55 million turned into $283 million just in few months of trade in BTC/ETH cryptocurrency pair. Bloomberg reported a success story of an unknown trader who became famous after Instagram post.

A trader known only by his wallet identification code published the only post in June in Indonesian saying about over 400% profit accumulated in Ethereum earlier this year.

According to Etherchain, at the announcement date, the balance of this account was $147,396,802.36, and other funds amounting to about $ 136 million are supposed to have been moved out within a month.

Anonymity is the distinctive feature of the world of virtual money. However, after a rise of market value of Bitcoin and Ethereum in general, corresponding regulators start speaking about a need to link wallet numbers to their owners’ identities.

The value of Ethereum, the second-most popular cryptocurrency after Bitcoin, currently totals $23 billion, i.e. there are dozens of electronic wallets of nine-figure positions. According to Bloomberg analysis, many of them can belong to individuals and some of them can own several wallets.

Hedge Fund Manager Michael Novograts, Joseph Lubin, Founder of ConsenSys and Ethereum creator Vitalik Buterin are among potential Ethereum billionaires; ConsenSys is blockchain production studio working on Ethereum.

Novograts and Lubin declined to comment but according to Buterin, and Bloomberg calculations, his Ethereum holdings amounted to about $117 million.

Ethereum like bitcoin has to gain its reputation that was impaired by cyberattacks and technology bottlenecks. Thus, last month the cryptocurrency crashed to 10 cents in seconds before going up to $300 under influence of various factors.

The owner of wallet No 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184 couldn’t be found for further comments.