$1B Bitcoins On The Move: Owner Transfers ~$100M to Bitfinex And Binance In 10 Days

$  1B Bitcoins On The Move: Owner Transfers ~$  100M to Bitfinex And Binance In 10 Days

This is the third post of a series of articles dedicated to investigate $ 1B worth of bitcoins (111,114 BTC/BCH/… BXX) that were dormant since 2014 and started moving actively. The BTC coins were originally located at this address (1KyJr2L6CN5XhDfv9Sb5q3kjKwFCrRxTLy).

The origin of the bitcoins is discussed here.

A deep-dive into the wallet activity was discussed here.

Today, I will focus on the transfer to major exchanges wallets that could indicate that the owner is selling his coins or exchanging it with alts or mixing it to cover his back.

I built a graph in order to deep dive into the transactions originated from the 111,114-BTC wallet and to follow it. This is the resulting graph were red indicates transactions <1 day, yellow <1 month, blue <1 year, green else.

https://i.redd.it/nk3iov045vj11.png

I found that at least 15,593 BTC originated from the 111,114-BTC wallet have been moved to Bitfinex and Binance wallets. This represents 14% of the original funds and more that $ 110M.

Bitfinex wallet

https://i.redd.it/m8fryy8s5vj11.png

11,114 BTC have been transferred to Bitfinex wallet 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g and the majority of these coins have been transferred in the last 7 days (August 24th – September 2nd).

Here is the list of the transactions:

https://i.redd.it/8e9l0lqf0vj11.png

Binance wallet

https://i.redd.it/i1v5lv3j9vj11.png

4,421 BTC have been transferred to Binance wallet 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s and the majority of these coins have been transferred in the last 10 days (August 21st – September 2nd).

Here is the list of the transactions:

https://i.redd.it/2cs6ufabavj11.png

Bitmex wallet(s)

I tracked Bitmex as well but "only" found 210 BTC transferred in with the following 6 major transactions:

https://i.redd.it/2oondki1ovj11.png

Also, I have found 350 BTC transferred from Bitmex wallets though, maybe after being "washed out":

https://i.redd.it/sx2g36jnovj11.png

T.B.C.

Surprisingly BTC price is pumping since those funds were starting to be transferred to Bitfinex and Binance wallets (see Binance transactions' list, August 11th)

How do you think will impact the market?

Do you want me to continue this investigation?

submitted by /u/sick_silk
[link] [comments]

Bitcoin – The Currency of the Internet

Bitcoin price crash fears raised after Mt Gox transfers 16000 tokens

The cryptocurrency exchange Mt Gox has moved 16,000 bitcoins out of its wallet to an address that may be associated with an exchange desk. Selling this many Bitcoins at once, which are currently valued at over £100 million, could prove disastrous for the value of the cryptocurrency. Supply of the …
Google Alert – bitcoin

Consumer Protection Association Slams Bank for Blocking Transfers to Bitcoin Exchanges (news.bitcoin.com)

From Israel to Australia, commercial banks in various parts of the world have tried preventing people from entering the cryptocurrency market by blocking money transfers to bitcoin exchanges. Now the largest consumer association in Portugal has called out a local bank for trying to do the same.
Also Read: U.S.

Bitcoin