Coinbase Sees Massive ETH Withdrawal in Seven-Minute Window

A large cryptocurrency holder made significant withdrawals from Coinbase on September 23, moving approximately $85.68 million in Ether (ETH) off the exchange within a seven-minute window.

The withdrawals occurred between 10:31 and 10:38 a.m. ET (14:31-14:38 UTC), with an average price of $2,679.31 per ETH.

The four new addresses involved in the transactions are believed to be controlled by the same entity or whale, as they share ownership and were newly created.