An Ethereum wallet address that has been inactive for eight years recently moved $116 million worth of ETH to an address on Kraken, a crypto exchange. The movement of the pre-mined ETH was confirmed by Etherscan data, and the transaction incurred $1.5 in fees. This significant move coincided with a slight decrease in ETH prices. The concept of account abstraction, which aims to simplify crypto wallet management, was also discussed by Vitalik Buterin, the co-founder of Ethereum.

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