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$1B Bitcoins On The Move: Owner Transfers ~$100M to Bitfinex And Binance In 10 Days

$1B Bitcoins On The Move: Owner Transfers ~$100M to Bitfinex And Binance In 10 Days
This is the third post of a series of articles dedicated to investigate $1B worth of bitcoins (111,114 BTC/BCH/... BXX) that were dormant since 2014 and started moving actively. The BTC coins were originally located at this address (1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a).
The origin of the bitcoins is discussed here.
A deep-dive into the wallet activity was discussed here.
Today, I will focus on the transfer to major exchanges wallets that could indicate that the owner is selling his coins or exchanging it with alts or mixing it to cover his back.
I built a graph in order to deep dive into the transactions originated from the 111,114-BTC wallet and to follow it. This is the resulting graph were red indicates transactions <1 day, yellow <1 month, blue <1 year, green else.
https://preview.redd.it/nk3iov045vj11.png?width=1677&format=png&auto=webp&s=176d5b5bda930abf870dbea7edd1ba5b654158be

I found that at least 15,593 BTC originated from the 111,114-BTC wallet have been moved to Bitfinex and Binance wallets. This represents 14% of the original funds and more than $110M.

Bitfinex wallet

https://preview.redd.it/m8fryy8s5vj11.png?width=2038&format=png&auto=webp&s=117806763f7fc79909ee0358755e43c6de652749

11,114 BTC have been transferred to Bitfinex wallet 1Kr6QSydW9bFQG1mXiPNNu6WpJGmUa9i1g and the majority of these coins have been transferred in the last 7 days (August 24th - September 2nd).
Here is the list of the transactions:
https://preview.redd.it/8e9l0lqf0vj11.png?width=471&format=png&auto=webp&s=c63fa6ce9479efd4f27ce8f8cd456de19712fc9e

Binance wallet

https://preview.redd.it/i1v5lv3j9vj11.png?width=2025&format=png&auto=webp&s=bc6c893b684d2c97206565219ff4d5ce8eb721a2

4,421 BTC have been transferred to Binance wallet 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s and the majority of these coins have been transferred in the last 10 days (August 21st - September 2nd).
Here is the list of the transactions:
https://preview.redd.it/2cs6ufabavj11.png?width=453&format=png&auto=webp&s=5cdcb45cbe44f3f61251317036c6738aa0f3a9cd
Bitmex wallet(s)

I tracked Bitmex as well but "only" found 210 BTC transferred in with the following 6 major transactions:
https://preview.redd.it/2oondki1ovj11.png?width=432&format=png&auto=webp&s=9ae358b80e747b62d6940ef9022df2734ed001f0

Also, I have found 350 BTC transferred from Bitmex wallets though, maybe after being "washed out":
https://preview.redd.it/sx2g36jnovj11.png?width=546&format=png&auto=webp&s=26f0ac6c64e6aa9aedb7f76c90fb8ebea1beefcc

Update 1
If anyone finds if the owner of this address is an exchange : 3PtJRj5xKUKJ21TshP5u2G6dQMPNz2yUSc, I would be interested, thanks.

Update 2
Here is a full resolution version of the graph requested by u/rush717:
https://preview.redd.it/xwvn0l9yxxj11.png?width=2705&format=png&auto=webp&s=cc01b3bfc8aed64af4323a485e35ce459f498327


Update 3
MtGox vs SilkRoad origin and September 6th BTC price impact is now discussed here: https://www.reddit.com/btc/comments/9dvaj1b_bitcoins_on_the_move_mtgox_vs_silkroad_origin/

--
Surprisingly BTC price was pumping since those funds were starting to be transferred to Bitfinex and Binance wallets (see Binance transactions' list, August 11th)
How do you think this will impact the market?
Do you want me to continue this investigation? If yes let me know what you would want me to focus on.
submitted by sick_silk to Bitcoin [link] [comments]

Investigating the $1B Bitcoins on the move from a SilkRoad related wallet

Investigating the $1B Bitcoins on the move from a SilkRoad related wallet
2 days ago, I reported that a SilkRoad related wallet containing about $1B worth of Bitcoins (111,114 $BTC and the same amount of $BCH and of other Bitcoin forks) was on the move after 4 years and 5 months of inactivity : https://www.reddit.com/Bitcoin/comments/9bfnff/near_1b_are_currently_on_the_move_from_a_silkroad/

Today, I will dig a little bit more into this wallet activity.

Below you will find a graph representation of the transactions sent over time from the original 111,114-BTC wallet to the most recent wallets which have received some of the coins. Each branch represent a sequence of transactions sent through several wallets.

Red nodes indicate the most recent transactions (< 1 month), blue nodes indicate quite recent ones (<1 year) and green nodes are the older ones ( > 1 year).

https://preview.redd.it/jjhfpb4udhj11.png?width=2233&format=png&auto=webp&s=7a369b73dfbe4601e05608f1aae36aff24a4d52e

  • Picture 2: original coins are currently transferred on Binance wallet, in fact it is a major end-point/aggregate of transactions originated from the 111,114-BTC wallet (1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s).
https://preview.redd.it/7novcf2wdhj11.png?width=2222&format=png&auto=webp&s=d0c429674a70bf2baf32c4ecc9c4475a1d43ad7e

https://preview.redd.it/9ungmsexdhj11.png?width=1620&format=png&auto=webp&s=079fcf54605e88debe0cac297e492785b7cc73ed

  • Picture 4: funds are currently actively mixed, you can see a chain of red nodes with no other purpose than transferring n time the coins and splitting/mixing it a bit (3Ah15skNb8R1teRWs6h2Q2vRywkLJWUhhb).​
https://preview.redd.it/9lzr31n0ehj11.png?width=2227&format=png&auto=webp&s=ade9fcf046e86a595e47f8c196df3abcb28866d3

So it's now obvious that the wallet's owner :
  1. is very actively splitting his original 111,114 BTC this past month (a lot of transactions are very recent, see the amount of red nodes on the graph);
  2. some of this funds are currently being sold on Binance (picture 2 and 3);
  3. is very actively in the process of mixing, hiding and making difficult to track his coins (picture 4).
Is the owner going to sell all his coins? How do you think this can impact the market?

Update 1
Following the request of u/btc-reddit, below you will find the graph that marks with red dots the wallets which have been active in the past 24h. At least 88 BTC have been transferred in the last 24h to Binance wallet: 18afibtW5NLMqMwCZD6yt1qhkmEbrfa3QF , 1M2stLGnZGi9XhB2sqTwFfcSfxZhzYKHs6 , 15jFKpCBfHN599TopLPQYdv2aNCRZSUw2r , 1F1EWmLJtYUA1yvDGRBQ6Z6Zjp33ci9EZX , 1M2stLGnZGi9XhB2sqTwFfcSfxZhzYKHs6 ...
https://preview.redd.it/v4yql8ftvhj11.png?width=1630&format=png&auto=webp&s=73d3b35f04854dc66accc3485680404d3e76cbc3

​Furthermore, more than 2,980 BTC have been transferred to Binance wallet in August 2018, certainly to be sold or exchanged with other currencies, which represents 3% of the original wallet.
That's more than $20M worth of bitcoin at current price, it definitely can have impacted the overall price this month.
Most of it was sold after August 12th, which corresponds to the start of an increase in Bitcoin price interestingly:
https://preview.redd.it/lg3ckep3zjj11.png?width=456&format=png&auto=webp&s=e7ba5ec10628ca7b6872beae249ee047f1cee408

Update 2
​This address is also heavily involved in this graph: 1NyfNYAXZ76VNdvxUUVxdbhWFQGa7QDjTn. It saw 73,673 BTC go through it (only 350 BTC originated from the wallet we are studying here though), in a little bit more than a year.
https://preview.redd.it/sbkx1etviij11.png?width=2041&format=png&auto=webp&s=05d81143196dce1c33dd2d6ea6695900ddd8d0d9

Update 3
This address 3D83uPnvodCLpwedooiRrLjdQ9pcFVZF32 is part of the graph and is multiplexing a lot of coins, about 175 BTC in small chunks < 1 BTC.​

Update 4
This is a more refined and complete version of the graph (the yellow nodes indicate transactions activity < 1 month). I let you find where is Binance wallet located ;-)
Obvious, isn't it!
https://preview.redd.it/y9e8tdlodkj11.png?width=2277&format=png&auto=webp&s=386fc91353b6c67d9ce8d6970c6c4bc1b7416a1a

Update 5
$110M worth of Bitcoins ​transferred Bitfinex and Binance: https://www.reddit.com/Bitcoin/comments/9ceb5v/1b_bitcoins_on_the_move_owner_transfers_100m_to/

Update 6
$1B bitcoins on the move: MtGox vs SilkRoad origin and BTC crash discussed
MtGox vs SilkRoad origin and September 6th BTC price impact is now discussed here: https://www.reddit.com/btc/comments/9dvaj1b_bitcoins_on_the_move_mtgox_vs_silkroad_origin/
submitted by sick_silk to Bitcoin [link] [comments]

$1B bitcoins on the move: MtGox vs SilkRoad origin and BTC crash discussed

$1B bitcoins on the move: MtGox vs SilkRoad origin and BTC crash discussed
This is the 4th post of a series of articles dedicated to investigate $1B worth of bitcoins (111,114 BTC/BCH/... BXX) that were dormant since 2014 and started moving actively. The BTC coins were originally located at this address (1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a).
  • The facts that part of this funds (>13%) have been transferred in the past month to Bitfinex, Binance and Bitmex exchanges is discussed here.
  • The origin of the bitcoins was originally discussed here.
  • A deep-dive into the wallet activity was discussed here.

Today I am writing a short update to discuss the origin of the funds and some events that could be related both to this wallet and yesterday's price crash.

Wallet's origin

This question has been discussed a lot by the crypto community in the past year.
Here is a summary of the most probable hypothesis for the wallet's origin:
  1. a SilkRoad user or DPRs wallet per this post: https://bitcointalk.org/index.php?topic=310600.0
  2. a MtGox cold wallet that has been seized or is still owned by MtGox: in fact the wallet funds moved in March 2014 right after MtGox filed for bankruptcy one month earlier in February 2014; these movements dates are really similar to the 200,000 lost coins "found" by Karpeles which moved March 7th, 2014 (1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3), just 2 days before the movements on the wallet we are talking about here.
  3. a whale wallet since the major part of the 111,111 coins are coming from a very old deposit of 37,421 coins processed on June 21st, 2011 making this an early adopter's wallet (70d46f768b73e50440e41977eb13ab25826137a8d34486958c7d55c5931c6081)

Wizsec, a prominent Bitcoin security expert, seems to be pretty sure that the wallet belongs to a MtGox hodler and early investor, who is not a DPR or a SilkRoad user, per his Twitter post: https://twitter.com/wizsecurity/status/1037030003068653569
Finally, Wizsec and I agree that this wallet is not CSW`'s wallet despite it is mentioned in several court documents. Wizsec spent a lot of time debunking CSW's ownership claims earlier this year: https://twitter.com/wizsecurity/status/968337084837781504

What do you think about this wallet origin?
`
BTC price crash

Also, I wanted to report some events that could be related to this 1933f wallet activity:
  • $100M USDT were transferred (reported by u/whalecheetah) while the 1933f wallet owner was in the process of transferring approximately the same amount to several exchanges;
  • a 10,000 BTC buy order was filed last night on Bitmex with 8,030 BTC transferred from a Bitfinex user wallet while the 1933f wallet owner transferred approximately the same amount of BTC to Bitfinex since August, 24th. Was this deal prepared or was the buyer a bitcoin angel?

In the light of this yesterday's price crash, do you think the $100M transferred to the exchanges caused it?


graph of transactions originated from 1933f wallet
submitted by sick_silk to Bitcoin [link] [comments]

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