Millions Transferred From a Sleeping Wallet

Millions Transferred From a Sleeping Wallet

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Chris
Chris

An editor at Coincrop


24 Nov 2022 | 2 min read
11,969 views

O

n Wednesday, BTC-e, a crypto wallet believed to be associated with the 2014 Mt. Gox hack sent 10,000 bitcoin (worth $165 million) to two unknown recipients in what is thought to be its largest transaction in years.

At 08:38 UTC, a wallet that received 3,500 Bitcoins forwarded 300 BTC to another destination, which was then split into several smaller wallets. These final wallets have no known custodial service associated with them.

It's difficult to tell where the money went: The owner could have sent it to their other wallets, distributed it to others, or gone through an unofficial broker to cash out. However, 6500 of the coins remain untouched.

In 2014, Mt. Gox, the first bitcoin exchange was hacked and 744,408 BTC were stolen. The company then shut down permanently. In 2017, Alexander Vinnik - who denies being the operator of BTC-e - was arrested by the U.S Department of Justice on money laundering charges among others.

Wednesday's transaction was linked to BTC-e by Crystal Blockchain. This data interpretation was published in a Telegram channel by Russian crypto entrepreneur Sergey Mendeleev. blockchain information is not always accurate and can be interpreted different ways.


Chris

Chris

An editor at Coincrop
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Chris is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.


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