DBS Bank denies holding 173,700 ETH

2024-05-30 21:15:36

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ChainCatcher news, according to Decrypt, a spokesperson for Singapore's DBS Bank denied via email to Decrypt that the bank "holds 173,700 ETH," stating that DBS Bank does not hold the aforementioned assets.

Nansen analyst Edward Wilson stated, "Nansen has confirmed through multiple independent sources that DBS Bank possesses the private keys to this wallet, and these assets are likely part of its custody solution." However, when asked if the wallet is used by the bank to hold funds for its crypto clients, the spokesperson declined to comment.
ChainCatcher previously reported that on-chain analytics platform Nansen stated it has confirmed that a "whale" holding 173,700 ETH belongs to DBS Bank, which had total assets of SGD 739 billion as of December 31, 2023. This address has earned over $200 million through holding ETH.

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