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Major Whale Activity Sees $600M In BTC Move In 12 Hours

Ofer Sharon
04 December, 2018
1 min read
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The 12th richest Bitcoin whale in the world just moved a massive $250M worth of Bitcoin (BTC) in a single transaction.

 

The astronomical transaction moving upwards of 66,000 BTC originates from a wallet created back in 2013. Before the huge transaction, the wallet was the 12th richest Bitcoin address in the world.

 

The first transaction was followed by three lesser but still massive transactions, adding up to roughly 80,000BTC ($312M).

 

Who could be behind the transaction? Could it be "Satoshi Nakamoto" in the flesh? What could be the meaning of this whale flapping its massive fins for the entire crypto community?

History of the associated wallet address. Screenshot taken from bitinfocharts.com.

History of the associated wallet address. Screenshot taken from bitinfocharts.com.

Unraveling the Mystery

The transaction was sent out of a Bitcoin address created in 2013. Since the wallet's creation, only occasional deposits have ever been made into it. Almost 200 transaction have been made to the wallet since 2013, but always only directed inwards.

 

On December 3, this address sent about 66,000 BTC to another address in a single transaction. Anecdotally, the fees for the entire quarter billion transaction cost only around $50.

 

This was later followed by three more separate transactions, of similar magnitude each, about 25,000BTC each, between completely different wallets. All wallets were created around 2013, and have been mostly dormant since. All four transactions totalling over $600M moved within 12 hours.

 

If one tries to track the rest of the path, they find that the destination wallet then splits the sum into 100 transactions of exactly 1 percent of the sum each, divided to 100 other different wallets. The same pattern appears with all of the four large transactions investigated, in what looks like automated machine programmed transactions. Although these are all separate wallet addresses, with seemingly no proof of connection between them, the recurring pattern raises suspicion of some mysterious scheme of a large scale.

What the Experts Say

BLOCKTV spoke with Yaniv Feldman, CEO of One Alpha, crypto data intelligence firm, to understand the meaning of this heavy move.

So according to One Alpha’s analysis, it seems the tsunami alert has been cleared, for now.

 

Stay tuned to BLOCKTV news as we continue to keep a close watch on what’s happening in our community. In the meantime, what are your theories? Write us in the comments below.

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