The EigenLayer team is looking into “unapproved selling activity” after a possible employee, former employee or early investor sold approximately $5.5 million worth of 
EIGEN +3.58% tokens, potentially contravening the token lockup period.
"We are investigating unapproved selling activity associated with this wallet," EigenLayer wrote in a community update on X. "We will share our findings with the community as soon as possible."
According to Arkham Intelligence data, the wallet in question was funded by EigenLayer’s multi-signature Gnosis Safe. Over 1.67 million EIGEN tokens have been offloaded so far.
EigenLayer has not responded to a request for comment at press time.
In addition to prohibiting current and former employees from staking any EIGEN received from Eigen Labs on EigenLayer until at least Sept. 30, 2025, the firm imposed a freeze on selling tokens until next year.
Beginning in September 2025, 4% of each recipient’s EIGEN will unlock each month until all employee and investors’ tokens are unlocked in September 2027, according to the official lockup schedule.
“It was previously communicated that Investors and Early Contributors would be on the above Lockup Schedule,” the team wrote in its documentation.
EIGEN tokens were airdropped beginning May 10, 2024, meaning that the wallet being investigated would still be under the one-year lockup period.
EigenLayer has not responded to a request for comment at press time.
EigenLayer is an Ethereum-based protocol that pioneered the crypto-economic security model known as “restaking,” which enables the reuse of staked ETH to secure decentralized applications.
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