Massive $1 Billion Bitcoin Whale Transaction Makes Waves

A massive 94,505 bitcoin transaction made crypto headlines as investors and investigators speculated from whence the BTC came.

The wallet, first accessed late on September 5, 2019, has been involved in only seven transactions including the massive whale move. Other moves include a $6,644 deposit early on September 6 and a deposit of $6.66 a few hours later.

Image via BitInfoCharts

Blockchain analysis firm TokenAnalyst noticed that many of the transactions came from Huobi wallets. “Our team is looking into the validity of the claim,” said a Huobi spokesperson.

Not surprisingly the move changed bitcoin’s price from $10,569 to $10,790 and follows a similarly mysterious $780 million BTC move that took place last week. Others suggested that the move was a deposit into the new Bakkt Warehouse product or liquidated funds from the PlusToken Ponzi scheme. TokenAnalyst created a graphic that shows the movement of the Huobi BTC into the new wallet.

Image via TokenAnalyst.

We have contacted Huobi and TokenAnalyst for further comment.

Zooming in to the flow of money, we see that a third of the 94.5k @Bitcoin directly originates from @HuobiGlobal.

These funds are currently sitting at 37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs and are unspent.

We’ll be keeping an eye on where these funds move to…? pic.twitter.com/rT5wIFPRu9

— TokenAnalyst (@thetokenanalyst) September 6, 2019

Photo by Sho Hatakeyama on Unsplash