Whale owning more than $1 billion BTC just moved 66,000 BTC - Poss Dump Incoming

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: Parodium on December 03, 2018, 05:44:31 PM

What do you guys think, anybody know if it's possible to check if any of the recipient wallets are exchange addresses?

it is not possible to know for sure but you can always make a good guess. in this case since none of those funds have moved you can be certain that the receiving addresses do not belong to exchanges since the exchange systems are automatic and they move any funds that are deposited in your exchange wallet address.

not to mention that whales never sell on exchanges!

Quote

Last time something like this happened it was a Mt. Gox trustee and the market dumped hard shortly after.

WRONG.
last time a whale (Mt Gox) moved their coins to sell you didn't even find out about it. instead when about 4-6 months past and the price drop started the news sites started publishing the false information and that made you think it was Mt Gox that caused the crash.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Ok, we established that it is most probably a Coinbase address, but what would the motivation be for them to move those funds? Did they do this to shift to SegWit or did they do this to capitalize on the forks that was done?

I would have thought that it would be better to split large quantities of coins onto multiple addresses and not into a single address, to make it more manageable and less noticeable?

Interesting observation. Wink

endlasuresh

full member

Activity: 756

Merit: 103

I think the owner moved to safe wallet, but not for dumping what does he get? Everyone want to be profit so he might moved into small amounts to keep safe.

ice18

hero member

Activity: 2492

Merit: 542

66k btc dump at bear market? No, thats impossible why not dump at ATH? I hope it was just a cold storage from an exchange which is anonymous to protect from possible hacking its a huge money only to use in market manipulation at this time when all small time investors are suffering?

o_e_l_e_o

legendary

Activity: 2268

Merit: 18711

Quote from: franky1 on December 04, 2018, 02:17:23 PM

-snip-

The 66,000 BTC from the 1Juf address were moved in July last year, in the weeks prior to Segwit activation, so we can't really draw any conclusions from those transfers. You are right with the other funds though - they were moved through several Segwit addresses before finally settling in multiples of 8,000 BTC in several legacy addresses.

Did notice this from a few days ago:

Quote from: https://blog.coinbase.com/notice-of-blockchain-movements-b09cb1ec46dd

Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers.

So sounds like they are maybe setting up new cold storage wallets?

neemaj

newbie

Activity: 13

Merit: 0

Quote from: Parodium on December 03, 2018, 05:44:31 PM

Full story - https://beincrypto.com/bitcoin-whale-moves-66000-btc-is-a-dump-incoming/

What do you guys think, anybody know if it's possible to check if any of the recipient wallets are exchange addresses?

Last time something like this happened it was a Mt. Gox trustee and the market dumped hard shortly after.

Yes. You can check various chainanalysis tools. Recipient address appears to belong to Coinbase according to one of the tools. Source in 2013 .. not much interesting, partly also Coinbase, Mt. Gox, some other exchanges. I have never seen the bech32 transfer to 100 different addresses before.. it's reasonable to assume it was done by an exchange.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: KingScorpio on December 03, 2018, 06:19:29 PM

lol good night you noobs see you at 3k and below, even travon james the bitconnect pumper said today bitcoin moves towards 0

He could sardonically say that. After all, did bitconnect not get wiped out? Well, while I worry about the dump that may likely occur if the whale decides to offload his coins to the market, i still don't see bitcoin hitting that point <$1k.

franky1

legendary

Activity: 4410

Merit: 4766

Quote from: o_e_l_e_o on December 03, 2018, 07:25:46 PM

Regardless, these funds are not being moved to an exchange, so it is unlikely to affect the market. If it is Coinbase as suspected, good to see they are moving the vast majority of these funds to Segwit addresses.

Parodium

sr. member

Activity: 1036

Merit: 332

DMs have been disabled. I am busy.

Quote from: Msile on December 04, 2018, 10:26:57 AM

We always see this kind of movements in the market, until now there is nothing strange, the curious thing starts when they move it to smaller accounts to sell little by little later, maybe try to create FUD again to lower prices even more.

The suspicious part is people claiming it's an old Coinbase wallet... Pretty sure Coinbase wasn't handling hundreds of thousands of BTC even back in the day.

Msile

hero member

Activity: 658

Merit: 503

We always see this kind of movements in the market, until now there is nothing strange, the curious thing starts when they move it to smaller accounts to sell little by little later, maybe try to create FUD again to lower prices even more.

Robust Crypto

jr. member

Activity: 100

Merit: 1

Quote from: Parodium on December 03, 2018, 05:44:31 PM

Full story - https://beincrypto.com/bitcoin-whale-moves-66000-btc-is-a-dump-incoming/

What do you guys think, anybody know if it's possible to check if any of the recipient wallets are exchange addresses?

Last time something like this happened it was a Mt. Gox trustee and the market dumped hard shortly after.

Maan... maybe he's trying to sell it on the OTC?

btc-room101

member

Activity: 182

Merit: 30

Quote from: o_e_l_e_o on December 03, 2018, 07:25:46 PM

The address in question has previously been stated online to be a Coinbase cold wallet. If you look at this transaction from 2013, you can see at least 7 other addresses linked to this address that are also holding or have held ~66,000 BTC. If you look at this address (1JufsDQbFckDAqFfhEECh78J2YcTucDTe1) for example, you can see that back in July last year it showed a similar pattern of activity of gradually splitting the funds over multiple addresses, down to around 100 BTC per address. These addresses then made multiple smaller transactions over the following months, likely paying out withdrawal requests from Coinbase customers.

Regardless, these funds are not being moved to an exchange, so it is unlikely to affect the market. If it is Coinbase as suspected, good to see they are moving the vast majority of these funds to Segwit addresses.

Probably the only rational answer here, I like it when people actually go back to verify the source of the coins, just like Palantir does.

I guess from now everytime somebody moves a bitcoin, its going to generate an OP on this site right?

WRT to coinbase, I would suspect that they're just running a test, so that the GOV can improve their tracking algorithms; Coinbase was long ago co-opted by IRS, and probably now only operates as a honey-pot, and laboratory to feed, care, and test the rats ( HODL-ers )

o_e_l_e_o

legendary

Activity: 2268

Merit: 18711

The address in question has previously been stated online to be a Coinbase cold wallet. If you look at this transaction from 2013, you can see at least 7 other addresses linked to this address that are also holding or have held ~66,000 BTC. If you look at this address (1JufsDQbFckDAqFfhEECh78J2YcTucDTe1) for example, you can see that back in July last year it showed a similar pattern of activity of gradually splitting the funds over multiple addresses, down to around 100 BTC per address. These addresses then made multiple smaller transactions over the following months, likely paying out withdrawal requests from Coinbase customers.

Regardless, these funds are not being moved to an exchange, so it is unlikely to affect the market. If it is Coinbase as suspected, good to see they are moving the vast majority of these funds to Segwit addresses.

franky1

legendary

Activity: 4410

Merit: 4766

its not funds moving to exchanges. its funds going through mixers/taint strippers

66k -> 100 txo's of 660 -> more addresses of 200 ->

its starting to accumilate back up into some addresses(at time of posting) 8k
14zukxqLuLXg5kqZYRB1Q3Audec3NtxJPW

BitMaxz

legendary

Activity: 3374

Merit: 3095

Playbet.io - Crypto Casino and Sportsbook

Are you trying to start a FUD here?

According to some thread that I found here in the forum this address "1EBHA1ckUWzNKN7BMfDwGTx6GKEbADUozX" is connected to MT. Gox wallet but I think they just transfer it to get the fork coins BCH, BTG and 2 new fork coins from BCH to convert it back to bitcoin and help boost the price. It's just my speculation but it maybe happens.

Another blog that I found is this http://bitcoinadderiinfo.blogspot.com/p/top-100-richest-bitcoin-addresses.html
The bitcoin address above is listed on the top 100 and I think this wallet is connected to the big exchange site.

LoyceMobile

hero member

Activity: 1659

Merit: 687

LoyceV on the road. Or couch.

So now moving coins to another wallet is enough to manipulate the market?

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: Parodium on December 03, 2018, 05:44:31 PM

Full story - https://beincrypto.com/bitcoin-whale-moves-66000-btc-is-a-dump-incoming/

What do you guys think, anybody know if it's possible to check if any of the recipient wallets are exchange addresses?

Last time something like this happened it was a Mt. Gox trustee and the market dumped hard shortly after.

lol good night you noobs see you at 3k and below, even travon james the bitconnect pumper said today bitcoin moves towards 0

Parodium

sr. member

Activity: 1036

Merit: 332

DMs have been disabled. I am busy.

Quote from: dothebeats on December 03, 2018, 05:53:59 PM

This is not a new phenomenon and everyday, huge sums of money are being transacted in the blockchain. If anything, this is actually good, as the owner of the coins is moving his/her funds on a bech32 address, a Segwit address that has improved security over the legacy P2SH Segwit outputs, and could just be making a point. It could simply be an exchange or just some random rich dude moving funds here and there, and that does not necessarily translate to a dump immediately.

Definitely not, but if you read the article you'll find that this particular address has been associated with some very shady activity, so it likely isn't just some rich dude moving funds around unfortunately.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

This is not a new phenomenon and everyday, huge sums of money are being transacted in the blockchain. If anything, this is actually good, as the owner of the coins is moving his/her funds on a bech32 address, a Segwit address that has improved security over the legacy P2SH Segwit outputs, and could just be making a point. It could simply be an exchange or just some random rich dude moving funds here and there, and that does not necessarily translate to a dump immediately.

Parodium

sr. member

Activity: 1036

Merit: 332

DMs have been disabled. I am busy.

Full story - https://beincrypto.com/bitcoin-whale-moves-66000-btc-is-a-dump-incoming/

What do you guys think, anybody know if it's possible to check if any of the recipient wallets are exchange addresses?

Last time something like this happened it was a Mt. Gox trustee and the market dumped hard shortly after.

Topic: Whale owning more than $1 billion BTC just moved 66,000 BTC - Poss Dump Incoming (Read 387 times)