According to some reports, one of the largest Bitcoin holders has just emptied the treasury moving around 8648 Bitcoin (the largest digital token in the world in terms of market value) worth $498 million, to other secret wallets. The holders were at number 114th of the largest Bitcoin holders ever to exist.
Bitcoin tracker Block Bot was one of the first to discover this huge transfer on Thursday then shared it with the public. The total cost of this ginormous transfer was just approximately a mere $53, completely clearing out the wallet with a remaining credit of $0. The moving happened to two separate fresh new wallets which had previously never seen any Bitcoin. 1 of the wallets obtained 4684 BTC and the other one acquired 4000 BTC.
It is still unknown who transferred this humungous amount of Bitcoin. Data from the transfer has so far shown no signs that the transfer was made by a huge well-known person or company. It also seems that the moved Bitcoin amount isn’t going to any exchange for selling into the open crypto market.
However, it does seem that whoever did the moving is having some sort of security issues where all of this huge amount of Bitcoin is not safe to keep. A certain individual or company might have been receiving threats in accordance with their Bitcoin storage.
There are many expert hackers around the world who can easily get into systems using intelligent malware injection, so this is why the strategy to move assets to different locations in different parts is a smart idea to implement to maintain the integrity of the asset and to make sure that the assets are in good hands.
Bitcoin is an extremely valuable asset in the current market, selling at around a stable $56,000, still, currently the King of all crypto topping the charts with 1st position. It is very obvious why someone would want to keep their valuable asset safe as there is no telling when a vulnerability might be discovered in the system and starts to be exploited without anyone noticing.