Conor Grogan, head of product at Coinbase, says there is a slight chance that $8.6 billion worth of Bitcoin has moved from eight wallets that held Bitcoin for over 14 years.
“If it’s true (again, we’re guessing straw here), this would be the biggest robber in human history,” Grogan said on Friday’s X-Post was a bad actor’s job after raising the slightest chance of $8.6 billion worth of Bitcoin (BTC) moving out of eight separate wallets.
Grogan scratching his head in a suspicious BCH transaction
“There’s a bit of a chance that a private key that has been hacked or compromised in BTC that has recently woken up has been compromised,” Grogan pointed to a suspicious Bitcoin Cash (BCH) transaction that took place on Thursday before a critical transfer involving 10,000 Bitcoin.
“We found one BCH test transaction from one of our clusters of BTC whales 14 hours ago. Then, an hour later, the BTC wallet started moving,” he said.
Grogan said that the wallet owner may have been quietly testing its private keys as Bitcoin cash transactions have not attracted much attention from the whale tracking service. But he thought that what he repeatedly said was unusual:
“This makes me say that no other BCH wallets have been touched at all, why don’t they clean these either?”
In a post on the same day, blockchain intelligence company Arkham said it was a single entity that moved $800 million worth of Bitcoin from eight separate wallets.
$8.6 billion Bitcoin is currently sitting in eight new wallets
Arkham said all Bitcoin was transferred to the original wallet on April 2 or May 4, 2011, and remained in the wallet for over 14 years.
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Arkham said Bitcoin is currently stored in eight new wallets and has not moved since.
Despite the uncertainty, Bitcoin prices have been relatively stable, immersing 1.02% in the last 24 hours at 1.02%, trading at $108,150 at the time of publication.
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