Bitcoin worth $6 billion moved in 25 transactions on a single block

  • 30 June 2019, Sunday, 12:00

The Bitcoin community eagerly awaits the raging bull market; however, the pump in its price occurs under suspicious circumstances. Bitcoin Block Bot, which alerts the community of massive Bitcoin movements caught wind of a shady pattern.

On June 30, 25 Bitcoin transactions worth $6 billion was observed on block 583,139. These transactions were a part of huge linear transactions that started from the wallet address 3LAEo5ZKdMp3uPhKZ9BzXmn7WZAvhuSjL3 and ended at the wallet address- 3AKWCzcxiNBxUhDJxVWN83wAgMje7pC3yv.

The first transaction was between the sender wallet- 3LAEo5ZKdMp3uPhKZ9BzXmn7WZAvhuSjL3 and the receiver 3D9vAVJesUfkSWcpxMKnCbetNu3VQ2RTZT, which received 24,392.93062596 BTC.

Another wallet, 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s received 300 BTC at the same time form the same sender. After further investigation, it was noted that the latter address was a constant in all 25 transactions and had received a sum of 5,800 BTC.

The receiver address, 3D9vAVJesUfkSWcpxMKnCbetNu3VQ2RTZT, further transferred the 300 BTC to 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s, along with transferring 24092.93013651 BTC to another wallet address noted to be 3DW9sauXcyuo3kAVXLiaFAUuRQqsWgoU5P. Similarly, the chain of transactions continued 23 more times.

After looking into the wallet transactions received by 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s, OP-returns were found that said “We’ll buy your Bitcoins. [email protected]”.

The balance of this address in BTC stood at 6,221.64309453 BTC; however, it received 5,955,927.90816456 BTC. The wallet address appears highly active as it is circulating BTC to various other wallets, at press time, after accumulation. Apart from this wallet, the original amount of 24,392.93062596 BTC was sent forward to 24 other wallets and the last wallet received a sum of 18892.92178195 BTC and is still unspent.

At press time, Bitcoin was falling by 1.48% over the past day and was valued at $11,605.79. The market cap of the coin was noted to be $206. 459 billion as the 24-hour trading volume was $27.606 billion. The coin noted growth of 8.51% over the week but was falling by a whopping 3.62% in an hour.