Buterin Transfers $8M Worth ETH To A Multi-Sig Wallet, Advocates For Security Over High Gas Fee

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Aug 9, 2024 12:04

Ethereum co-founder Vitalik Buterin has transferred 3,000 ETH, valued at around $8 million, to a multi-signature safe wallet attracting around 0.1 ETH in gas fees (about $270). The reason for the transfer is unknown and speculated to be a donation. When a user questioned the high gas fees on the network, Buterin underscored security over high gas fees. He advocates for wallet security over concerns about Ethereum’s fluctuating gas fees. Despite a recent drop in gas fees, Ethereum’s 2024 fee levels remain high.