Ethereum (ETH) founder Vitalik Buterin is catching the attention of crypto sleuths after moving 500 ETH to an under-the-radar decentralized finance (DeFi) project.
Blockchain security firm PeckShield first spotted the transaction and revealed that a wallet controlled by Buterin transferred the ETH stack to DeFi protocol Reflexer.
Reflexer is a platform designed to enable users to mint stablecoins by using their crypto as collateral.
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The protocol issues RAI, a crypto asset backed by Ethereum that aims to maintain a stable value in order to protect holders from the volatility of the markets.
According to PeckShield, Buterin used the 500 ETH to accumulate stablecoins.
The blockchain security firm shows that the Ethereum founder used the ETH trove as collateral on Reflexer to mint 150,000 RAI tokens.
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