On-chain analyst Specter has linked significant ETH inflows into the ProveX project to wallets associated with Richard Heart. Between January 5 and January 7, 2026, approximately 128,808 ETH, valued at around $413 million, were deposited into a wallet connected to the ProveX public sacrifice address.
The analysis indicates that these funds passed through Tornado Cash using more than 800 intermediary wallets. Specter traced the origin of these assets to deposits made by Heart-linked wallets, which had sent 112,987 ETH into the same mixer in November 2025 and over $600 million in October 2025.
The transfers occurred just before a scheduled 6.25% rate increase for the ProveX sacrifice phase on January 8, 2026. ProveX is marketed as infrastructure for non-custodial peer-to-peer payments and cross-chain transactions utilizing zero-knowledge proofs.
By February 2026, analysts estimated that approximately $400 million of the total funds raised during the sacrifice phase could be traced back to recycled capital linked to Heart. This raises questions regarding the actual level of external demand and the future distribution of project tokens.
