A certain ETH whale is suspected of rug pulling and liquidating their holdings, incurring a $23.8 million loss after holding the ETH for four years.

BlockBeats News, July 14th, according to LookIntoChain monitoring, a whale has been holding ETH for as long as 4 years, accumulating a realized loss of $23.8 million (-59%). The whale address 0xFe99 received 9,389 ETH 4 years ago when the price of ETH was around $4,311, valued at around $40.47 million at the time, and has not sold any since.

Currently, with ETH priced at $1,777, the value of these 9,389 ETH has dropped to around $16.69 million. The whale seems to have finally chosen to exit at a loss, having transferred all 9,389 ETH to Coinbase Prime about 10 hours ago.