$1 Billion BTC In Single Transaction Moved To A Few Huobi Addresses

$1 billion BTC was moved yesterday in one transaction to multiple Huobi addresses sparking reactions on Twitter and other social media platforms. We are about to find out more in the coming altcoin news below.

TokenAnalyst got even deeper in the research and found out that a huge share of the sending addresses points to Huobi. The Twitter user Whale Alert announced that about $1 billion BTC was moved from an unknown wallet to another unknown wallet and the received wallet automatically became a whale. There are a few entities that could have done the transaction including crypto exchanges or governments at least in theory. The crypto and blockchain data analyst TokenAnalyst tried to find out where the crypto funds came from and apparently more than a third of the Bitcoin addresses point to Huobi Global.

So far, Huobi didn’t react at all on Twitter or their own website. The crypto exchange operator is busy with the launch of the blockchain phone named Acute Angle and a new token named NODE. The only clear explanation is that Huobi is moving the clients’ funds to another digital wallet which is looking like a cold one. In other words, it could even be a technical issue that should not concern us though $1 billion worth of Bitcoin in one transaction is obviously a sign to get our attention.

Also, back on Wednesday, it was reported that more than 23,000 BTC was moved from OKEx which created a massive panic among the Bitcoin holders as they feared a potential hack. However, the CEO of the company Jay Hao did not hesitate to explain that this was just a scheduled wallet maintenance procedure. Unlike the $1 billion BTC move, the transactions on OKEx were carried out in a few parts of 3,000 BTC each. Another interesting fact about the huge transaction is that it came with a 0.065 BTC fee or more than $680 according to the portal blockchain.com data. The community was also pretty overwhelmed by the power of the blockchain technology in another context. By using the traditional payment channels it could be almost impossible to conduct in less than 30 minutes with no government involvement and documents as per the records in the latest cryptocurrency news.