That is DeepBit's payout address. Whenever DeepBit pays its miners, it sends one transaction per miner, and each transaction comes from 1VayNert and sends change back to 1VayNert. The change from these thousands of small transactions adds up to create huge "total BTC received" amounts. 1VayNert has never actually contained anywhere near 10 million BTC -- that's just how much BTC it has sent to itself in change from transactions.

The "Final Balance" for that address is only a bit over 2000BTC, so it's not actually a very high figure for how much they own. As theymos says, the "Total Received" figure is something else; it's a measure of volume sent through that address, and can count the same bitcoins many times over.

Here's a chart showing the balance at that address over time. It once nearly reached 12,000 BTC.

According to this forum topic it belongs to DeepBit (currently the largest mining pool)