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I do not understand how this address has a balnce of >$55k at current prices: https://etherscan.io/address/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

There have been >300 transactions to it, but most with 0 Eth.

Also I am assuming that this isn't a real address because nobody could brute force a private key from it, and it's extremely unlikely that one would just arrive at it.

What gives?

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  • Check out this transaction: etherscan.io/tx/… – Jesbus Sep 10 '20 at 20:45
  • Thank you @Jesbus! I missed it somehow. Any idea about the other part of the question, whether it's a real address in the sense that someone has the private key? – Poglavar Sep 10 '20 at 20:55
  • It's used by a bunch of companies (Bancor, Kyber, etc) as a "place holder" for what is referred to as "Ether Token", in order to allow for Ether to be handled similarly as any other token in the system. It is not supposed to be an address which you transfer your Ethers or Tokens to. Obviously no one has its private key, so if you do choose to transfer your assets to it, then you can rest assure that you will never get to see them again. – goodvibration Sep 10 '20 at 20:57
  • Thanks @goodvibration, that makes sense! How do I accept a comment as solution? – Poglavar Sep 10 '20 at 20:58
  • Not possible, you can thumbs it up I suppose... – goodvibration Sep 10 '20 at 20:59
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It's used by a bunch of companies (Bancor, Kyber, etc) as a "placeholder" for what is referred to as "Ether Token", in order to allow for Ether to be handled similarly as any other token in the system.

It is not supposed to be an address which you transfer your Ethers or Tokens to.

Obviously no one has its private key, so if you do choose to transfer your assets to it, then you can rest assure that you will never get to see them again.

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Like the other guys said, it's an address used to identify the ETH coin itself as if it was an ERC20 token. Many protocols use ERC20 tokens so when it comes to the main currency in Ethereum, ETH itself, they have to create some kind of representation to use it as a token.

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