The defunct cryptocurrency exchange BTC-wallet has recently shifted 10,000 bitcoins.
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on Nov. 23 to multiple exchanges, individual wallets, and other sources, with a current value of about $165 million.
While this withdrawal is the largest made by BTC-e since April 2018, a Chainalysis report on November 23 suggested that BTC-e and WEX, an exchange that is believed to be BTC-e’s successor, both sent small amounts of BTC to the Russian electronic payments service Webmoney on October 26 before making a test payment on November 11 and sending out an additional 100 BTC on November 21.
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9,950 BTC of the total supplied amount is believed to still be in individual wallets, with the remaining BTC being transferred through middlemen and ending up at four deposit addresses on two significant exchanges.
Ki Young Ju, co-founder, and CEO of the blockchain analytics company Cryptoquant confirmed the findings and pointed out that 0.6% of the money was moved to exchanges, which might be sell-side liquidity.
Young Ju released photographs of the transfer and noted that the BTC had been in the wallet for more than seven years in a tweet on November 24.
Additionally, Young Ju appealed for the account to be suspended for questionable activity and disclosed that 65 BTC had been transferred to the cryptocurrency exchange HitBTC.
A Tokyo-based cryptocurrency exchange called Mt. Gox once handled more than 70% of all Bitcoin transactions. After being hacked in 2014 and have thousands of bitcoins stolen, the exchange soon declared bankruptcy.
Following allegations that BTC-e was involved in money laundering, including the use of cryptocurrency following the Mt. Gox exchange hack, the FBI shut down BTC-website e’s and seized cash in 2017. BTC-e had US-based servers.
BTC-e reportedly had “a considerable amount of Bitcoin” at the time of its suspension, and in April 2018, it moved more than 30,000 BTC out of its service wallet.
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According to a 2017 WizSecurity analysis, BTC-e and Vinnik were directly implicated in the theft of customer cash and bitcoin from Mt. Gox, with the latter being forced to halt trading and shut down its website as a result of the losses.
