10.4-Year-Old Dormant Ethereum ICO Wallet Turns $263 Into $2.82M, Shifts Funds to Coinbase

A blockchain wallet that participated in Ethereum’s 2015 ICO and stayed dormant for over a decade has suddenly reawakened, realizing an extraordinary 10,684x profit.

The unexpected activity immediately caught the attention of major blockchain analytics platforms, including Lookonchain and Whale Alert, both of which reported the awakening on X.

Transaction Details

According to their findings, the previously inactive address, 0x782F…20a97, received 850 ETH during the ICO and left the funds untouched until today. After more than 10 years of dormancy, the wallet has initiated its first transaction since the ICO, marking the end of one of the longest hibernation periods among early Ethereum investors.

Moreover, the scale of the ICO participant’s returns is remarkable. Lookonchain revealed that the early investor spent only $263.50 during the 2015 ICO, acquiring the 850 ETH at roughly $0.31 per coin. Fast forward to 10.4 years, and the stash is now worth approximately $2.82 million, representing a staggering 10,684x return.

An Ethereum ICO wallet (0x782F) with 850 $ETH($2.82M) just transferred 1 $ETH to #Coinbase after 10+ years of dormancy.

He invested only $263.5 in the ICO and received 850 $ETH — now worth $2.82M, a 10,684x return! pic.twitter.com/OR24zkIpol

— Lookonchain (@lookonchain) December 10, 2025

User Embarks on Selling Spree

It is also worth noting that the user’s first on-chain activity was a small test transaction in which the address sent 1 ETH to Coinbase, according to Lookonchain. Although minor, the move is significant because such transfers often signal preparation for broader liquidation.

Meanwhile, the Crypto Basic confirmed that the address has now embarked on a selling spree, moving additional funds to Coinbase. Following the initial 1 ETH test transaction, the wallet transferred at least 130 ETH to the San Francisco-based exchange within the past hour in batches of 10–30 ETH. It also rerouted part of the funds to another unidentified address.

At the time of writing, the ICO participant holds a remaining balance of 683 ETH, valued at $2.27 million, with each ETH priced at $3,330.

Ethereum ICO Participants Wake Up After Multi-Year Dormancy

Since the beginning of this year, several reports have highlighted Ethereum ICO participants reawakening from long periods of dormancy. Earlier this month, a user who joined the ICO resurfaced after more than a decade of inactivity to stake 40,000 ETH. This major move came shortly after the user first sent 5 ETH to an unidentified wallet.

Furthermore, in September, another participant who received 1 million ETH during the ICO reactivated their wallet after eight years of inactivity and staked 150,000 ETH. In October, an ICO participant who had been dormant for eight years sold 1,500 ETH through FalconX. The Crypto Basic has also documented multiple cases of ICO-era wallets ending their long hibernation to liquidate portions of their ETH holdings.

Looking back to 2023, one dormant ICO address that had been inactive for eight years transferred 61,216 ETH to Kraken. Additionally, last year, another ICO participant moved 4,160 ETH to Kraken, likely in preparation for a sale.

In the meantime, despite the recent transfers to Coinbase from the 10.4-year dormant whale, ETH has remained relatively stable, holding near the $3,300 price level.