Has Bitmine taken action again? Suspected of sweeping 480 million USD in ETH during the market crash
On October 11, when the market collapsed, on-chain data showed that one of Ethereum's largest institutional holders, Bitmine, was suspected of actively increasing its holdings. Multiple new wallets accumulated large amounts of ETH from Kraken and FalconX during the crash.
Monitoring data indicated that on October 11, Bitmine was found to have purchased another 27,256 ETH, worth about 104 million USD. Two new wallets suspected to belong to Bitmine withdrew 33,323 ETH from FalconX and Kraken, worth about 126.4 million. Even more astonishingly, on that day, a total of three new wallets withdrew 78,824 ETH from Kraken, worth about 302 million USD, highly suspected to belong to Bitmine.
On October 12, the data was updated again, showing a total of 5 to 6 new wallets possibly belonging to Bitmine that cumulatively withdrew about 119,800 to 128,700 ETH from Kraken and FalconX, with a total value reaching as high as 450 million to 480 million USD. $BTC