Chinese Investor Burns $1.3 Million in Ethereum – Here is Why
A Chinese crypto investor, under the alias “Hu Lezhi,” has reportedly burned $1.3 million worth of Ethereum (ETH) under puzzling circumstances, according to blockchain analytics firm Arkham.
The individual sent the funds to a burn address, citing bizarre claims that two executives from a Chinese quantitative hedge fund, WizardQuant, were using “brain-computer weapons” to harass and persecute employees, both current and former.
Lezhi accused Xin Feng and Yuzhi Xu, two high-ranking figures at WizardQuant (also known as Kuande), of being victims of such control, suggesting they were not acting of their own free will.
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Alongside the massive ETH burn, Lezhi shared unsettling claims about being a target of continuous mind control since birth.
In the same series of transactions, Lezhi’s address also transferred over $4.9 million in ETH to burn addresses and sent funds to both Wikileaks and the Ethereum Foundation.
It also moved significant amounts—$825,000 and $273,000 worth of ETH—to a Coinbase deposit and another new address. Despite the unusual nature of these actions, the funds are now permanently unrecoverable.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
