Nearly $392 mln in Bitcoin transferred between unregistered BTC wallets with the Coinbase, PlusToken

There have been three substantial Bitcoin transactions recently discovered from Twitter Bot Whale Alert. The total value of these three transactions is $ 391,671,618 (total of 39,554 BTC).

Nearly 40,000 BTC move between wallets and exchanges

Transactions are made between Bitcoin wallets and anonymous owners. However, the sender in one of them is the cryptocurrency exchange Coinbase, based in San-Francisco, California.

The three transactions discovered by Whale Alert have triggered all sorts of speculations – from previously announced Bitfinex maintenance to funds transferred by the PlusToken cryptocurrency fraud project.

A significant transaction is re-recorded, and most likely, it belongs to PlusToken.

The move comes just days after Bitcoin hit the $ 10,000 mark. The transaction of 11,999 BTC took place with a total value of 17 million USD. This is quite surprising when PlusToken was previously known for transferring money with small transactions and then liquidating on Huobi.

Because PlusToken is mostly in China, its activities have not been closely monitored by many media outlets over the past few months. But this project remains a potential threat to the Bitcoin market for many months to come. This time, PlusToken’s wallet has moved vast amounts of money to a new anonymous address. In the past, PlusToken had a significant impact on the market by dumping massive amounts of coins on exchanges.

PlusToken can make Bitcoin price drop sharply in an instant by dumping coins

The stories of coin transfers are certainly somewhat disruptive to the community and especially when PlusToken has just moved the coin to a new cold wallet.

PlusToken’s total holdings are currently unknown, but the number is still being investigated by many startups. Blockchain Center has just calculated that there are about 200,000 BTC owned by this project, surpassing the cold wallet of the Winklevoss brothers.

PlusToken also used coin mixers to cover the amount of money they hold. Up to now, despite the strong discharge on Huobi, it has not been able to verify and prevent these coins from being discharged simultaneously.

PlusToken easily survived through the summer of 2019, when Bitcoin price peaked near $ 14,000. This is considered the most multi-level fraud project in 2019, with more than $ 2.9 billion mobilized from Chinese investors.

Bitcoin giant moved around

Huge Bitcoin transactions began to appear more often after Bitcoin started to approach the $ 10,000 level.

At press time, the Bitcoin price has reached $ 10,312, up more than 5% in the past 24 hours. Previously, nearly one billion BTC with BTC was transferred between Bitcoin wallets and unregistered owners on February 1.

Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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