DBS Bank denies holding 173,700 ETH

A spokesperson from DBS Bank in Singapore denied holding 173,700 ETH, stating that the bank did not hold such assets. Nansen analyst Edward Wilson stated that "Nansen confirmed through multiple independent sources that DBS Bank owns the private key to this wallet and these assets are likely part of their custody solution." However, when asked if the wallet was used by the bank to store funds for its crypto customers, the spokesperson declined to comment. Today, Nansen confirmed that the holder of 173,700 ETH is DBS Bank, with total assets reaching S$739 billion as of December 31, 2023. This address has earned over $200 million through holding ETH.