What could these 4000+BTC whale addresses possibly be up to?

Cookdata

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Quote from: SFR10 on September 02, 2022, 07:04:28 AM

Quote from: Cookdata on August 30, 2022, 05:04:21 PM

I don't know if the admins/owner of that Bitcoinabuse does take care of this spam.

Unfortunately, they won't:

Quote from: https://www.bitcoinabuse.com/faq
Can you remove a report?
No, in order to protect the integrity of the BitcoinAbuse database we will not remove or edit any reports.

If they have a database, then half of it must have been polluted with junk addresses and fake reports. What is the integrity they are trying to protect when they cannot handle spams, why would anyone take a report seriously when they don't have the integrity to protect it? Relying on this type of website could be misleading, even Bitcointalk being an open forum with freedom has rules that must be followed so that others will not be misled by improper information.

worldofcoins

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Quote from: excro on August 29, 2022, 03:17:49 PM

I didn't search very deep and managed to find all of those addresses that sum-up to 16506.9152708 BTC which equals to 332,548,315$ USD Shocked

Does anyone know what this could possibly be? Is it bots trying to "launder" Bitcoin?

Regards, excro

I think it could be related to some mixer's funds if they're still active.

It could also be more likely that these addresses are related to exchange, more likely finance, I could be wrong here as I don't know the addresses binance uses.

yazher

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Quote from: jackg on August 29, 2022, 04:08:02 PM

It could be some organised group trying to launder and steal funds via bitcoin (that seems to be what bitcoin abuse is saying).

$300M is quite a lot to hide though expecially as it's been noticeable enoggh to be brought up here and on bitcoin abuse (maybe not as anonymous as most other payment mechanisms)...

They are now exposed and can't run anymore if they stopped the transactions after knowing they were being watched by the community, then they are really doing some money laundering here. But I don't think they will care about us when they already have a plan to where they will gonna exactly hide those funds. Some of these people don't really know how to hide their transactions and make it obvious to see they were up to something but whatever that is, I hope it won't negatively affect the crypto market.

SFR10

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Quote from: excro on August 29, 2022, 03:17:49 PM

I am wondering what these addresses are up to. I also found that all of the addresses are still active. Here's some of the addresses I found:

bc1qw8wrek2m7nlqldll66ajnwr9mh64syvkt67zlu - 4103.17259053 BTC
3QFtYbR22en2AizTb7JVFA9bL2rf1fbNJr - 6255.97665029 BTC
bc1qmxcagqze2n4hr5rwflyfu35q90y22raxdgcp4p - 2988.93455519 BTC
bc1quq29mutxkgxmjfdr7ayj3zd9ad0ld5mrhh89l2 - 1361.74526852 BTC
bc1q8yja3gw33ngd8aunmfr4hj820adc9nlsv0syvz - 1797.08620625 BTC
more...

~Snipped~
Does anyone know what this could possibly be? Is it bots trying to "launder" Bitcoin?

Apart from the first one, all of the above addresses belong to known exchanges ^{[some of them have in and outs from other platforms while there's one with mostly internal transfers]}:
^{- With regard to the former, I didn't go that deep to see if it could be a laundering case or not (feel free to go down that road by clicking the following links).}

In exact order:

Quote from: excro on August 29, 2022, 03:36:01 PM

Exchange address with multiple reports on bitcoinabuse?

Yes, try searching for the following "old Binance address" on the same website and you'll see a lot of fake reports!
^{Note: I'm not implying all of the reports on BitcoinAbuse are fake.}

Quote from: Cookdata on August 30, 2022, 05:04:21 PM

I don't know if the admins/owner of that Bitcoinabuse does take care of this spam.

Unfortunately, they won't:

Quote from: https://www.bitcoinabuse.com/faq
Can you remove a report?
No, in order to protect the integrity of the BitcoinAbuse database we will not remove or edit any reports.

Cookdata

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When you said you explored Bitcoinabuse, I thought was some kind of analytical to look deeply at wallet addresses but it is not the case but there is something we are ignoring which is the website itself. According to Bitcoinabuse website, it is a public website where anyone could report a wallet address that has carried out fraudulent activity and this could be done by anyone because it is free and open to anyone but I also think that the scammers are taking advantage of this website. For example, I viewed the last report when I was on the website https://www.bitcoinabuse.com/reports/bc1q289x3t4ap46xt8dk3q2herzwy0muzpljhfl25j and It was a scammer trying to use that to get victims. Here is the screenshot below:

Looking at this comment, you will agree with me that this is a scammer at work and trying to make a report in disguise to scam people who may think that the website link posted in the description could help them when they lost Bitcoin to scammers. I don't know if the admins/owner of that Bitcoinabuse does take care of this spam.

coolcoinz

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Quote from: Bitcoin_Arena on August 29, 2022, 05:59:34 PM

Quote from: coolcoinz on August 29, 2022, 04:08:34 PM

It's also possible it's a bitmex wallet or somehow connected with the exchange because 100% of outputs from this address is sent to bitmex addresses. If they are laundering such big amounts of money through this exchange I doubt it isn't aware of what's happening. We're talking about almost 700 withdrawals to bitmex just from this one address.

All bitmex addresses are identifiable and they (bitmex) are even clear about that. bc1qmex for the Bech32 Address Prefix. 3BMEX and 3BitMEX the P2SH Address Prefix.
I know this because I have deposited and withdrawn from the exchange several times

Nobody in their right mind would launder such amounts through Bitmex especially now that it's highly regulated...lol

I know bitmex addresses are easily recognized, which is why I said the address is connected to bitmex because all the coins that go through it end up on one of the bitmex addresses. Mainly on 3BMEXt9Z6a7a73oLmeaAngda7KfZPsuQFX that received 171 BTC and 3BMEXEu4iJby6SKYra7FZyNxHD8RV985nj that got 92.
I don't know if it's money laundering. It's not an incredibly large amount of money, especially if it's not a laundering business but a small 1 man operation Wink

Bitcoin_Arena

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Quote from: coolcoinz on August 29, 2022, 04:08:34 PM

It's also possible it's a bitmex wallet or somehow connected with the exchange because 100% of outputs from this address is sent to bitmex addresses. If they are laundering such big amounts of money through this exchange I doubt it isn't aware of what's happening. We're talking about almost 700 withdrawals to bitmex just from this one address.

All bitmex addresses are identifiable and they (bitmex) are even clear about that. bc1qmex for the Bech32 Address Prefix. 3BMEX and 3BitMEX the P2SH Address Prefix.
I know this because I have deposited and withdrawn from the exchange several times

Nobody in their right mind would launder such amounts through Bitmex especially now that it's highly regulated...lol

hatshepsut93

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Who cares? 4,000 is not a bit amount for this market. Worst case scenario the coins get dumped and cause some temporary downside. In the grand scheme of things its irrelevant. These coin movements happen all the time.

Tracking whale transactions only makes sense if you are a day trader, and even then it's not as simple as seeing such transaction and immediately knowing how it would affect the market.

coolcoinz

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I clicked on one of them (3QFtYbR22en2AizTb7JVFA9bL2rf1fbNJr) and this looks like a mixer. It receives and sends out coins all the time and the received amounts equal sent amounts.
It's also possible it's a bitmex wallet or somehow connected with the exchange because 100% of outputs from this address is sent to bitmex addresses. If they are laundering such big amounts of money through this exchange I doubt it isn't aware of what's happening. We're talking about almost 700 withdrawals to bitmex just from this one address.

jackg

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https://bit.ly/387FXHi lightning theory

It could be some organised group trying to launder and steal funds via bitcoin (that seems to be what bitcoin abuse is saying).

$300M is quite a lot to hide though expecially as it's been noticeable enoggh to be brought up here and on bitcoin abuse (maybe not as anonymous as most other payment mechanisms)...

Ever-young

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Most whales don't even store their coins on one wallet for security reasons. When you come across huge among of coins like this what should come into your mind first is exchange and company.
A thread was created for this address
37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs which is also holding huge amount of btc which there are saying it belongs to huobi exchange which might be one of their cold wallet, but their are no proof to that claims.

Upgrade00

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I am just hearing about this website (bitcoinabuse) and on little research, turns out it has been discussed quite often.
For one I rarely trust such review sites as, one is banking on their transparency in the content they display.

Quote from: excro on August 29, 2022, 03:36:01 PM

Exchange address with multiple reports on bitcoinabuse?

Regardless of my skepticism. It is very unlikely than em exchange address would wound you here and the chances of the addresses being linked to scammers are high.

excro

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cloak.su

Quote from: Upgrade00 on August 29, 2022, 03:29:49 PM

Could be an exchange address or a whale obfuscating the trail of their transaction.

Exchange address with multiple reports on bitcoinabuse?

Upgrade00

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The addresses are not only active, but are constantly sending out transactions to different addresses within a short period of time.
The consistency of the transactions are odd, but that doesn't make it mysterious.

Quote from: excro on August 29, 2022, 03:17:49 PM

Does anyone know what this could possibly be? Is it bots trying to "launder" Bitcoin?

Money laundering is not the first guess for odd transaction activities.
Could be an exchange address or a whale obfuscating the trail of their transaction.

excro

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cloak.su

Hello all. I have been exploring the Blockchain and I found a few whale addresses containing 1000-6000 BTC that seem to be connected in some way. upon searching theese addresses on bitcoinabuse, some of them seem to have a few reports. I find this very mysterious and I am wondering what these addresses are up to. I also found that all of the addresses are still active. Here's some of the addresses I found:

bc1qw8wrek2m7nlqldll66ajnwr9mh64syvkt67zlu - 4103.17259053 BTC
3QFtYbR22en2AizTb7JVFA9bL2rf1fbNJr - 6255.97665029 BTC
bc1qmxcagqze2n4hr5rwflyfu35q90y22raxdgcp4p - 2988.93455519 BTC
bc1quq29mutxkgxmjfdr7ayj3zd9ad0ld5mrhh89l2 - 1361.74526852 BTC
bc1q8yja3gw33ngd8aunmfr4hj820adc9nlsv0syvz - 1797.08620625 BTC
more...

I didn't search very deep and managed to find all of those addresses that sum-up to 16506.9152708 BTC which equals to 332,548,315$ USD Shocked

Does anyone know what this could possibly be? Is it bots trying to "launder" Bitcoin?

Regards, excro

Topic: What could these 4000+BTC whale addresses possibly be up to? (Read 278 times)