Among all the things that happen in the Bitcoin market, one of the most curious is when whale wallets are activated after many years. This precisely happened this week, but the possibilities behind the event suggest that it could be the mobilization of funds from a whale related to a hack. Below we will tell you the details.
What exactly happened?
This week, specifically during Tuesday’s, Whale Alert he reported eleven operations from the same address that had not been active since July 29, 2014. The 11,325 BTC were processed at a block height of 729,587.
In this way, ten operations were registered for 1,000 BTC and one for 1,325 BTC, giving a total of 11,325 BTC. In 2014, 1000 BTC was equivalent to US $ 583,859, while today that same amount would exceed 47.5 million dollars. We would be talking about the fact that this account mobilized the equivalent of US$ 540 million in the same day!
Obviously, this generated curiosity on the part of the Bitcoin community. Usually, when a security address is activated after such a long time, some suspicions are usually generated.
What are the possible reasons? A whale related to a hack?
First of all, the possibility that was most talked about was the one exposed by Whale Alert. Through their Twitter account they mentioned that it could be a whale address related to the Cryptsy hack / theft.
When the trades were tracked, those more than 10K BTC were distributed to 666 new addresses, all with an average of 17 BTC (approximately). Some netizens commented “Isn’t it strange that they are distributed to exactly 666 addresses? Just a coincidence?». The truth is, yes. In principle it is quite strange.
Some people suspect that the BTC from this wallet may be in the hands of the US government. However, although the Department of Justice accused Paul Vernon, the former CEO of Cryptsy, of fraud, he is still at large and no one knows where he is. His accusation is given for the theft of about 13,000 BTC from Cryptsy users a few years ago, when they filed for bankruptcy and then could not answer about it.
Whatever the reason, the truth is that when it comes to large amounts and such strange movements as the division of funds into hundreds of accounts, suspicions rise. Even at the time of writing the publication, no statements have been issued by the US government, if that were the case.
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