Suspected Kanye West address withdrew 4,000 ETH from Binance, deposited it into Aave, and borrowed 6 million USDT
The address 0xdeA611a2f605FE63962E0151e724E9ce4C8a1d5c, monitored by on-chain analysts, received about 3,999.99 ETH from Binance address 16 about 8 hours ago, then deposited 4,000 ETH into the Aave ETH Staking contract as collateral and executed a borrowing operation from Aave Pool V3.
Etherscan transaction records show that after this sequence, the address initiated transfers to the Tether USDT contract. The address currently holds about 22,504 aEthWETH as Aave collateral and has debt positions of about 22.02 million variableDebtEthUSDT and about 9.01 million variableDebtEthUSDC.
The address was previously flagged by on-chain analysts as being associated with rapper Kanye West (Ye) and has continuously gone long ETH since 2026-09-29 by withdrawing ETH from Binance and using circular borrowing on Aave. This operation continued that pattern.
Original sources:
Title: Address: 0xdea611a2...e4c8a1d5c | Etherscan Publisher: Etherscan Publication date: 2026-10-28 (page real-time) URL: https://etherscan.io/address/0xdea611a2f605fe63962e0151e724e9ce4c8a1d5c Source nature: official on-chain data Verification status: This reading of the address page and recent transaction list confirmed receiving about 4,000 ETH from Binance about 8 hours ago, depositing 4,000 ETH into Aave and executing Borrow, verification date 2026-10-28 Supporting content: Confirms the specific transaction sequence and the current Aave collateral and debt positions
Title: Kanye West is looping long on ethereum... Publisher: EyeOnChain (@EyeOnChain) Publication date: 2026-10-22 URL: https://x.com/EyeOnChain/status/2113097219331223766 Source nature: on-chain monitoring original post Verification status: This reading of the full post, verification date 2026-10-28 Supporting content: Reports the address's previous behavior of looping long ETH on Aave and its funds flows with Binance, but does not prove this specific 4,000 ETH transaction
ABAB AI Insight
The address 0xdeA611a2f605FE63962E0151e724E9ce4C8a1d5c has been continuously tracked by multiple on-chain analysts, including Ai Yi, since late September 2026, and has been marked as associated with Kanye West. The address had previously withdrawn ETH from Binance multiple times and deposited it into Aave as collateral, then borrowed stablecoins, forming a circular leveraged long position. As of around October 22, the collateral scale had reached about 18,500 WETH, with about 25.01 million US dollars in stablecoins borrowed and a health factor of about 1.51.
After receiving about 4,000 ETH from Binance this time and immediately depositing it into Aave to add more borrowing, the total collateral rose to about 22,504 aEthWETH, and the debt scale expanded further. The fund path is exchange withdrawal → Aave collateral → borrowing stablecoins, typically used to amplify ETH long exposure rather than simply holding or selling. Unlike a simple withdrawal from an exchange, borrowing stablecoins after posting collateral improves capital efficiency while increasing liquidation risk.
Such operations are common in the crypto market among large holders' leveraged strategies, for example other tracked ETH long addresses have also used Aave circular borrowing to lower their average cost. Compared with earlier simple holding or meme coin disposal, this time it focused more on continuous adding and cost management. The key difference is that the health factor has fallen from the previous roughly 1.51 to around 1.41 in the report, indicating that leverage has increased.
This operation increased the address's ETH long exposure and stablecoin debt on Aave. Since the address attribution is still based on on-chain analysts' labeling rather than the party's public confirmation, the ultimate use of funds still depends on whether it continues to add positions or repay debt. The key observation is whether the address again withdraws ETH from an exchange and adds more collateral.
ABAB News · Law of cognition
Immediately depositing into a lending protocol after withdrawing from an exchange and borrowing stablecoins usually corresponds to circular leverage rather than simple transfer.
A declining health factor indicates a change in the collateral-to-debt ratio, rather than simply an increase in collateral scale.