Recently, an investor has made a name for himself by destroying the equivalent of $8.3 million in cryptocurrencies and NFTs. What do we know about this mysterious story that has the crypto community questioning
“nd4.eth” investor burns millions in cryptocurrencies
In recent days, an investor has raised questions in the crypto community. Over the past fortnight or so, the mysterious “nd4.eth” has burned the equivalent of around $8.3 million in cryptocurrencies and non-fungible tokens (NFTs).
By “burned”, it should be understood that these assets have been sent to an address that no one controls, meaning they are lost forever.
First of all, the interested party began to make a name for himself by transferring 2,500 ETH to a ‘burn’ address on 26 July, equivalent to more than $4.6 million at the current price:
Figure 1 – The 2,500 ETH burned by nd4.eth
On Wednesday, nd4.eth did it again by destroying a copy of NFT’s Bored Ape Yatch Club (BAYC), Mutant Ape Yatch Club (MAYC) and Bored Ape Kennel Club (BAKC) collections, worth around $88,300.
Then, a new series of burns took place on Thursday to the tune of $3.59 million, this time with GNS and GMX tokens:
After a day of silence, nd4.eth burned another $3.59M worth of tokens today – most of which he has held for months.
Since January this year, nd4.eth bought $1.8M of GNS and ☻$1M of GMX from Uniswap.
He decided to burn it all in the past 2 hours – still with no explanation. https://t.co/b1HFbyqa7J pic.twitter.com/SAh3GBbYxA
– Arkham (@ArkhamIntel) August 10, 2023
A mystery that remains
With so much money going up in smoke, the community is asking questions, fuelling many theories such as emotional unhappiness. And for good reason, observers have noted links with wallets registered under Ethereum Name Service (ENS) with evocative aliases, translating for example into “nothingness” or “end it all”:
first the weird ENS registrations then he burns $4.5M
what the fuck did he mean by this
can someone check on nd4.eth pic.twitter.com/2icbNOXLJK
– safu (@safuXBT) August 7, 2023
On OpenSea, we can also see that at least 2 NFTs have been sent to nd4.eth, inviting him to call a support number, and reminding him that his family needed him:
Figure 2 – Support NFTs sent to nd4.eth
In reality, the real reasons behind this destruction of value are still unknown and could be very different from the theories put forward by the community.
What is certain is that certain malicious actors have not failed to seize the opportunity to try and make a profit. In fact, a simple search for ‘nd4.eth’ on Twitter reveals numerous messages calling on users to provide their address, with the alleged aim of making them eligible for a hypothetical airdrop.
Of course, you have to be very careful with these types of tweets, which are often motivated by phishing, in an attempt to steal funds from gullible investors.
