Three crypto wallets cashed out $24.25M from World Cup bets

On June 21, blockchain analytics firm Lookonchain identified three wallets that together recorded $24.25 million in profits from World Cup prediction markets. The platform tracked 13 winning positions from 16 settled bets before the accounts stopped trading and withdrew remaining balances to a Binance deposit address (0xB08B…317D).

Mintblade generated $9.24 million after five winning positions with no recorded losses. GRIMDRIP earned $7.6 million from two successful trades. EndlessFate recorded $7.41 million after six wins across nine settled outcomes.

All three wallets transferred proceeds to the same Binance deposit address. Exchanges typically assign unique deposit addresses to each customer, so a shared address can indicate common control. The on-chain transfers do not identify who operated the wallets or how the bets were selected.

An on-chain analyst reported seeing similar trading patterns in other accounts during the tournament but did not provide evidence linking those accounts to the three wallets identified by Lookonchain. The pattern of concentrated, high-value positions followed by a halt in activity and withdrawal drew attention because of the timing and scale of the payouts.

When markets have sufficient liquidity, bettors can build very large positions on favored outcomes, and upsets or draws can produce large payouts for the opposing side. For example, a Polymarket account called fishalive committed about $4.2 million across two positions and later realized roughly $9 million after a match draw and related outcomes paid out.

Polymarket and Kalshi hosted the bulk of World Cup prediction trading. More than $5 billion had been traded on World Cup contracts across the two platforms in the tournament’s early stages. Polymarket’s market on which country would win the tournament reached about $3 billion in cumulative volume.

Both platforms have rules restricting trades by people with confidential information or the ability to influence results. Kalshi has limits for athletes, political candidates and others connected to listed events. U.S. lawmakers have proposed measures addressing prediction markets, including restrictions on sports and political contracts; none had become law as of press time.

Polymarket and Binance had not confirmed Lookonchain’s findings at press time. The identities and motives of the operators behind mintblade, GRIMDRIP and EndlessFate remain unknown, and public transaction records alone do not establish how the winnings were achieved.

Dara Campbell, a senior executive at Hashgraph Ventures, commented: ‘Everyone knew this World Cup would catapult prediction markets to another level. But the numbers are smashing expectations.’