HEX Owner Cashes Out $ 7 Million Ethereum Pile for Profit Rally, Crypto Coins News

• Bulk of the remaining Ethereum used to buy HEX has been emptied from original address.
• Creator Richard Heart refuses to acknowledge any involvement with the ETH in question.
• Surprisingly, the ETH now sits in (different addresses and has not been sold.

Nearly $ 7 million worth of Ethereum has been emptied out of theHEX purchase addressin the past few days.

$ 7 Million Worth of Ethereum on the Move)

A series of******************************** (transactions, each containing 1, ETH, depleted the bulk of the remaining Ethereum which had been sent to the HEX purchase address.

**************************: Nearly $ 7 million worth of Ethereum was moved to 50 different addresses | Source: EtherscanWith Ethereum now trading around the $ 192 mark, that makes the (**********************************************************, ETH worth just under $ 7 million. Less than a month ago the same coins would have been worth around $ 5.5 million.

Yet Ethereum holders don’t have to worry about a sudden cash-out negatively affecting the price of their coin. Not yet anyway.

Right now, each of those transactions are sitting quietly in 36 different Ethereum addresses -each worth $ (**************************************************, ********************************************* each at the time of writing.

Unless the owner of these coins faces urgent legal pressure in the near future, there is a chance they’ll remain in cold storage until ETH hits its next short-term peak.

The HEX Smart Contract

HEX creator Richard Heart set up a smart-contract which would spit out HEX tokens to anyone who sent Ethereum to it. In leaning on automated smart contracts in such a way, Heart can stand back and maintain that he has nothing to do with the sale of HEX.When questioned , Heart has neither confirmed nor denied that he controls the HEX Ethereum address, or even that he knows who does. The reason being he knows doing so would provide a legal opening for financial authorities.

Heart will apparently (own more than) *********************************************************% of the HEX token supplydue to the way the protocol was designed. But with HEX trading at around 1 satoshi, or $ 0. 97, (********************************************************% of nothing isn’t much.

That leaves the Ethereum pile as the main pay-day for anyone who hoped to profit from HEX’s creation.

This article was edited bySamburaj Das

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