The native token (VGX) of insolvent crypto brokerage company Voyager Digital rose by 20% on Friday after on-chain information exposed that a Voyager wallet sent out 52 million tokens ($7.3 million) to a burn address.
Etherscan information reveals that a wallet identified as “Voyager 1” made its very first outgoing transfer for 225 days, sending out a test deal of 123.45 tokens before sending out the bigger batch worth $7.3 million.
Voyager applied for personal bankruptcy in 2015 following the collapse of FTX, which remained in speak with obtain Voyager before its implosion caused a market-wide slump.
It is presently uncertain why the tokens, which relate to around 30% of the overall supply, was sent out to a burn address. Voyager described its intent to liquidate all possessions in March this year.
Voyager did not right away react to CoinDesk’s ask for remark.
Modified by Kevin Reynolds.