An on-chain analyst known as Specter has revealed that a wallet, suspected to be linked to the controversial Mining Express project, recently converted 5,004 ETH into approximately 8.8 million DAI. This transaction, which occurred around 16 hours ago, has sparked interest due to its potential implications for historical fund flows and liquidation motives. Specter had initially tagged the address on June 15 and has since completed further analysis, identifying several related addresses. The wallet in question is connected to Mining Express, a project launched in Ukraine in 2019 by Brazilian founder Kaze Fuziyama. Initially attracting investors through multi-level marketing, the project was later labeled a Ponzi scheme and shifted its focus to cloud rendering. Historical data shows that the wallet received 4,512 ETH from a related address in March 2024, which were staked via Lido and Ether.fi, with the full unstaking completed by May 2026.