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A crypto wallet believed to be connected to Justin Sun has suddenly moved. It’s a large amount of $XVS tokens after staying inactive for more than two years. The transfer has caught the attention of on-chain analysts and traders across the crypto market.
According to blockchain monitoring data shared by analyst ai_9684xtpa. The wallet moved 621,071 $XVS tokens to a new address. The tokens were originally withdrawn from Binance about two years ago. At the time of the withdrawal, the tokens were worth around $7.58 million. But today their value has dropped significantly.
Tokens Moved After Two Years of Inactivity
The crypto wallet linked to Justin Sun is holding the $XVS tokens. It had been inactive for roughly two years. The whale left the tokens untouched during that period. But recently, they transferred the entire balance to a new wallet address. The identity of the receiving wallet is currently unknown.
Venus 第七次被攻击后，孙哥持仓超两年的 $XVS 苏醒了😬
— Ai 姨 (@ai_9684xtpa) March 16, 2026
2 年前他以 $12.21 从 #Binance 提出 621071 枚 $XVS，价值 758 万美元；持仓 2 年后首次向新地址转移了全部代币，目前接收地址归属未知
这两年间 $XVS 缩水近 75%，目前仅价值 195 万美元
钱包地址… https://t.co/b5X7lxSrQu pic.twitter.com/RtOf8czTjx
Large transfers like this often raise questions in the crypto community. Traders usually watch whale movements closely. Because they can signal possible selling activity or portfolio changes. So far, there is no confirmation about the reason behind the transfer.
Token Value Fell Sharply Over Time
When the tokens were first withdrawn. The price of $XVS was about $12.21 per token. Since then, the market value of the token has dropped significantly. Over the past two years, the price has fallen by nearly 75%. Due to this decline, the same 621,071 $XVS tokens are now worth around $1.95 million. The sharp drop reflects the challenges faced by the Venus Protocol ecosystem. That has struggled with security incidents and market pressure.
Transfer Follows Recent Venus Protocol Attack
The token movement also happened shortly after a new security issue involving Venus Protocol. It’s a lending platform on the BNB Chain. The platform recently experienced another exploit. Reports suggest a flash loan attack caused losses of several million dollars.
This incident marks the seventh known attack on the protocol since 2021. Over the years, these attacks have caused more than $260 million in losses and bad debt. Although the timing of the token transfer is notable. There is no confirmed link between the wallet activity and the latest attack.
Market Watching Whale Activity
Large crypto wallet movements are often closely watched by crypto traders. When whales move tokens after long periods of inactivity. It can sometimes signal possible selling, trading or security changes. In this case, analysts are still trying to understand the purpose of the transfer.
The new wallet linked to Justin Sun that received the tokens. It has not been publicly identified yet. For now, the move remains an interesting on-chain event rather than confirmed market action. Still, the activity highlights how blockchain data allows the public to track large crypto movements in real time.
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