íàçâàíèå

$1B Bitcoin Transaction Traced Back to Multiple Huobi Addresses

$1B Bitcoin Transaction Traced Back to Multiple Huobi Addresses

About $1 billion worth of Bitcoin was moved yesterday in a single transaction, sparking reactions on Twitter and other social media sites. TokenAnalyst went deeper and found that a significant share of sending addresses point to crypto exchange Huobi.


94,504 Bitcoin Reaches a Single Address

On Thursday, Twitter user Whale Alert announced that 94,504 Bitcoin moved from an unknown wallet to another unknown wallet. The price of the transferred Bitcoin was $1,018,147,922 at the time. The receiving wallet became automatically a whale.

Naturally, there are few entities that could conduct such a transaction. Were talking about whales, crypto exchanges or governments, at least in theory.

Crypto and blockchain data analyst TokenAnalyst tried to figure out where did the crypto funds come from. Apparently, at least a third of the Bitcoin addresses point to Huobi Global.


So far, Huobi hasn’t came with any reaction on its Twitter page or website. The crypto exchange operator is busy with launching its blockchain phone called Acute Angle and a new token called NODE.

The only plausible explanation is that Huobi is moving the clients funds to another digital wallet, probably a cold one. In other words, it might be a technicality that shouldnt concern us, though $1 billion worth of Bitcoin in a single transaction is eye-catching anyway.

On Wednesday, we reported how 24,000 BTC that moved from OKEx created panic among Bitcoin holders as they feared a potential hack. However, OKEx CEO Jay Hao didnt hesitate to explain that it was just a scheduled wallet maintenance procedure.

Unlike the recent $1 billion move, OKExs Bitcoin transactions were carried out in multiple tranches of 3,000 BTC each.


Almost $700 Paid in Fees

Another interesting aspect of the 100k-ish BTC transaction is that it came with a 0.065 BTC fee or nearly $680, according to blockchain.com data.

Imagine how much it could cost to send $1 billion in fiat money? The advantage of blockchain becomes evident in this case.

Also, the community was overwhelmed by the power of blockchain in another context. Using the traditional payment channels, it would be almost impossible to send $1 billion in about 30 minutes with no government involvement and no documents.

Do you agree that Bitcoin is one of the greatest ways to exchange value? Share your thoughts in the comments section!

Images via Shutterstock, Twitter: @whale-alert, @thetokenanalyst, @Rhythmtrader, TokenAnalyst

The post $1B Bitcoin Transaction Traced Back to Multiple Huobi Addresses appeared first on Bitcoinist.com.

06.09.2019 / 06:20 52
OKEx Wallet Maintenance Causes Panic as 24,000 BTC Moves OKEx Wallet Maintenance Causes Panic as
The crypto community spotted some massive funds movement from OKEx and got scared that the cryptocurrency exchange was hacked. However, CEO Jay Hao
Was Tether the Unknown Bitcoin Whale Behind Monday’s $2.27 Billion Transfer? Was Tether the Unknown Bitcoin Whale
The massive $2.27 billion bitcoin transfer that occurred on Monday has led to the emergence of fanciful theories that Tether might be creating a
Whale Watch: Large Bitcoin Cash Holders Accumulate 1 Million BCH Since February Whale Watch: Large Bitcoin Cash Holders
In the last two weeks, cryptocurrency prices have seen significant volatility and during this time onlookers have noticed large bitcoin whale
Previously Inactive Whales Are Moving Large Amounts of BTC Previously Inactive Whales Are Moving
Earlier this week, armchair sleuths began pointing out that large amounts of cryptocurrency from long-dormant addresses have been on the move. For
Whales On The Move: Somebody Just Transferred $193 Million Worth Of Bitcoins From A Billion-Dollar Wallet Whales On The Move: Somebody Just
Players in the Bitcoin market are anxious to dig up anything they can about a Bitcoin whale spotted doing something that could potentially impact the
Sell-Off Incoming? Mysterious ‘Asian Whale’ Begins Funneling Bitcoins Back to Huobi Sell-Off Incoming? Mysterious ‘Asian
A mysterious “Asian whale” accumulated more than 94,000 bitcoins during the first half of 2018, and now they have begun to move them back to one of
Comments (0)
Add a comment
Comment on