Kanye West-Linked Wallet Withdraws 2,074 Ethereum (ETH) From Binance
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More than 21,000 Ethereum ($ETH$) never left their place. On Monday, November 2, a wallet that blockchain analytics firm Arkham tags 'Wanyewest69' and that online observers have linked to the rapper Kanye West withdrew 2,074 Ethereum ($ETH), worth about $4.7 million, from Binance, within hours of the exchange restoring its withdrawal service. The rest of the position stayed exactly where it was: on-chain data shows 21,109 $ETH$ still pledged as collateral on the decentralized lending protocol Aave, securing borrowings of roughly $27.71 million. The 2,074 $ETH left the exchange outright; no new collateral entered from Binance on Monday. The two loan positions carry health factors of 1.44 and 1.62, both above the 1.00 line at which Aave can open pledged collateral to seizure.
Who controls the address is unconfirmed; no verified connection between the wallet and West has been established, and the label rests on Arkham's account tagging alone, with no public statement from West or any exchange addressing the wallet. The withdrawal reversed course from Friday, October 30, when the same address sold 1,390 Ethereum ($ETH$) at an average Ethereum price of $2,275.6, an estimated loss of about $317,000, expressly to bring its liquidation risk down. That sale cut the pledged collateral from 22,504.52 $ETH$ to 19,506 $ETH$ and the debt from about $31.02 million to roughly $27.67 million, on-chain records show.
The build-up had come two days before the sale: on Wednesday, October 28, the wallet pulled 4,000 $ETH$ out of Binance, deposited the coins into Aave and borrowed an additional 6 million USDT, at which point the health factor stood at 1.31. Collateral on the position now reads 21,109 $ETH$ , up from the 19,506 $ETH$ recorded after the Friday sale.
The withdrawal landed on Binance's own recovery timeline. The exchange lost about $6.3 billion in digital assets to a security incident on Thursday, October 29, suspended withdrawals for a security review, and began restoring them on Monday.