Associated Wallet Deposits 8,200 ETH to Coinbase, Faces Significant Loss

Background

According to market data, a wallet associated with Forward Industries has deposited 8,200 Ethereum (ETH) to Coinbase, worth approximately $14.91 million. The funds, held for 2-3 years, are now facing a significant loss of $10.82 million.

Fund Movement Analysis

This wallet initially received 23,491 ETH, worth around $76.26 million, from Binance and Coinbase for staking purposes. It later deposited an additional 23,914 ETH, valued at approximately $65.44 million, back to the exchanges.