Base-BALD Deployer Bridges $12.9 Million To Ethereum, Moves 2,100 ETH To Kraken

• The BALD deployer still holds 2,237 Ether worth $4.13 million on Base, Coinbase’s flagship layer 2 blockchain.
• There’s also $3.7 million in ETH bridging back to Ethereum after the initial 7,000 Ether sent by the deployer.
• Per LookOnChain, 2,100 ETH was deposited on the crypto exchange Kraken.
• The token turned viral on Base growing to a $80 million market cap before joining a growing list of ghost tokens worth fractions of a penny.

The deployer of viral memecoin BALD sent 7,000 Ether (ETH) worth $12.9 million back to Ethereum from Base, per LookOnChain. Back on Base, the deployer still has $4.13 million in 2,237 ETH with some 2,000 ETH worth $3.7 million bridging to Ethereum.

2,100 ETH, a slice of the rugged funds, was sent to crypto exchange Kraken from the deployer’s address. The Ether sent to Kraken amounts to $3.87 million as ETH trades around $1840 at the time of writing.

Short-Lived BALD Hype On Base

BALD, a memecoin seemingly inspired by the distinct haircut of Coinbase CEO Brian Armstrong, achieved overnight success before crashing to ruin. The token grew to over $80 million in market cap and became popular on Base, the L2 network backed by Armstrong’s crypto exchange Coinbase.

Base is also the first decentralized network launched by a publicly traded company domiciled in the U.S.

Although moving funds to Base worked through a one-way portal, degens speculated on BALD’s price ascending higher. Holders were left struck out after the token deployer suddenly withdrew liquidity in an apparent rug pull. The coin’s price declined afterward and never recovered.

Regarding the identity of the mysterious BALD deployer, on-chain sleuth ZachXBT shared clues pointing to a pseudonymous user known as @milkyway16eth. The suspected individual sent $50,000 in crypto to another in 2021 with the same addresses used to deploy BALD’s smart contract.

It’s not proven or confirmed that @milkyway16eth is indeed the BALD deploy, although the user went private after the info came to light.