Wallet linked to old crypto exchange BTC-e suddenly activates

A wallet address linked to former crypto exchange BTC-e sent its largest transaction since August 2017 on Wednesday, sending a total of 10,000 BTC ($167 million) to two unknown walletsaccording to blockchain analytics firm Crystal Blockchain after being noticed by crypto detective Sergei Mendeleev.

See related article: Bitcoin, Ethereum rebound pulls back amid BTC dump concerns from Mt. Gox, Celsius

Fast facts

  • One of the wallets that received 3,500 BTC transferred 300 BTC to another wallet, which was then divided even further into several other wallets, while the other wallet still kept the rest of the funds.

  • BTC-e was shut down by the Federal Bureau of Investigation (FBI) in 2017 for alleged money laundering after processing approximately US$9 billion between its founding in 2011 and that date.

  • Suspected BTC-e operator Alexander Vinnik was arrested in Greece in 2017 by the US Department of Justice under allegations that BTC-e facilitated the laundering of funds acquired during the notorious BTC-e exchange hack. crypto Mt. Gox Co. Ltd.

  • Vinnik was sentenced to five years in prison in France for money laundering in 2020 before being extradited to the United States the same year.

  • Mt. Gox was once the largest bitcoin exchange in the world, accounting for over 70% of global bitcoin trading volume in 2014 before collapsing that year after being hacked for 850,000 bitcoin worth about 500 million US dollars at the time.

  • The company’s rehabilitation trustee, Nobuaki Kobayashi, contacted creditors in July saying customers and creditors would receive 137,000 Bitcoin, worth around $2.8 billion at the time. raising fears of a setback in the price of Bitcoin at the time.

See related article: Mt. Gox Could Make Bitcoin Worth Over $6 Billion, Karpeles Says

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