Crypto wallet burning NFTs worth $4 million in two weeks

Crypto wallet burning NFTs worth $4 million in two weeks

Tokens and NFTs worth $4 million Destroyed today, same address burned 2,500 ETH in July.

The crypto community has been scratching their heads as a mysterious wallet, formerly known as nd4.eth, has burned digital assets worth millions in the past two weeks, leading to an act of digital pyromania.

The wallet burned a total of $3.6 million of tokens, including GNS and GMX.

In the past day this wallet has sent a CryptoPunk, three Bored Apes, two Mutant Apes and two Bored Ape Kennel Club NFTs into the virtual bonfire, aka the burn address. This blaze consumed NFTs worth between $280,000 and $280,000 at current floor prices.

The same address, which burned 2,500 ETH worth $4.65M on Jul 26. The wallet held 2,310 ETH on Jan 19 and now has just 0.23 ETH left.

By submitting assets to an address, holders can never be retrieved, which results in an irreversible loss of the asset's supply.

The social media world is awash with theories, such as elaborate performance art and relationship problems.

The wallet even sent its valuable three-letter ENS domain to the burn address. ND4eth, registered last year for 9.47 ETH, was valid until 2042, but it seems retirement came early.

One concerned observer sent over an NFT asking the address owner to seek help.

So, as the community watches this digital pyre with a mixture of fascination, bewilderment, and the odd plea for free NFTs, the person behind ND4eth remains an inscrutable enigma.

It's a story that's both a mystery and comedy, as well as all crypto.