Connor Grogon believes that there is a "small probability" that billions of dollars in #البيتكوين that had been dormant for a long time were moved earlier today as a result of a private key breach.
Before the massive movements, one of the wallets associated with it made a small transaction on #بيتكوين_كاش .
Grogon suggested that this could be a way to test whether the private keys used to control the $BTC wallets were compromised.
And $BCH is already operational. This way, the hacker was able to avoid unwanted attention as very few people actively monitor the mentioned blockchain. Other BCH wallets remained untouched, which seems strange.
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Furthermore, the analyst noted that the concerned Bitcoin transfers were manual. An exchange transfer would be automatic. Therefore, it is unlikely that a large institutional player is behind the massive Bitcoin movements.
The recent transfers are not what one would expect to see when an ordinary old whale decides to convert its funds to cash.
If Grogon's theory is correct, this is likely the largest cryptocurrency theft ever. However, it is worth noting that there is only a small probability that this is the case. Grogon has confirmed that he is "speculating on a hunch" in this instance.
If this is true (again, I'm speculating on a hunch here), then this would definitely be the largest theft in human history.
— Connor (jconorg,,rogan) July 4, 2025
According to data provided by Arkam, one entity moved $8.6 billion in Bitcoin from a total of eight addresses. All of these coins had remained inactive for 14 years.
The coins have not yet been moved from the new addresses, according to Arkam. #NFPWatch #REX-OSPREYSolanaETF #CPI&JoblessClaimsWatch