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Crypto News: Latest Updates on Cryptocurrency Today

Published on Feb 18, 2025

Updated on Feb 18, 2025

2 min read

18 Feb 2025

Chinese crypto whale "Hulezhi" burns over 2K ETH, accuses Kuande Investment of brainwashing

In the latest crypto news today, the industry is abuzz with the revelation of an pseudonymous user named Hu Lezhi, who sent 603 ETH ($1.6 million in value) to the Ethereum burn address on Monday with a message accusing Kuande Investment CEOs, Feng Xin and Xu Yuzhi, of brainwashing their employees with technology. Burning of tokens implies sending them to crypto addresses where the sender or any other person can't ever access them again. (Source)

The Chinese crypto whale Hu Lezhi also made large donations totaling 1,950 ETH to various addresses, including WikiLeaks and Ukraine.

The incident has sparked community reaction on social media platforms, with crypto users investigating the sender’s wallet activity. Solana-based meme coins emerged in response to the events.

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