DBS Bank denies holding 173,700 ETH

On May 30, a spokesperson for Singapore's DBS Bank denied holding 173,700 ETH via email to Decrypt, saying that DBS Bank did not hold the above assets. Nansen analyst Edward Wilson said, "Nansen has confirmed through multiple independent sources that DBS Bank has the private key to this wallet, and these assets are likely part of its custody solution." However, when asked whether the wallet is the one used by the bank to hold funds for its crypto clients, the spokesperson declined to comment. Today, Nansen said that it has confirmed that an ETH whale holding 173,700 ETH is DBS Bank, and this address has earned more than $200 million by holding ETH.