Significant ARB Token Movement to Coinbase Raises Questions

According to The Data Nerd, a wallet potentially linked to the ARB Foundation deposited 2.394 million ARB tokens, valued at approximately $1.77 million, into Coinbase five hours ago. Previously, this wallet had received 9.844 million ARB tokens, worth $15.26 million, and deposited them all into Coinbase nine months ago. If this wallet does not belong to the ARB Foundation, the owner might have incurred a substantial loss of around $9.23 million based on these transactions.
SourceThe Data Nerd
@OnchainDataNerdThe Data Nerd (On a mission to make onchain data digestible)