#BTCWhaleMovement

"Whale" or theft?: mystery surrounding movements of USD 8.6 billion in bitcoin

It could be an early adopter who remained inactive for 14 years and today would be one of the richest people in the world, or a hack that would constitute the largest theft in human history. Investment in cryptocurrencies Bitcoin

An unusual movement of USD 8.6 billion in Bitcoin from eight wallets that had been inactive for more than 14 years raised suspicions in the global crypto community. Some experts are considering the possibility that it is an unprecedented theft. Conor Grogan, head of product at Coinbase, a cryptocurrency exchange, suggested in a post on social media platform X that there is a "small possibility" that these funds were hacked or that the private keys were compromised. The issue revolves around the transfer of $8.6 billion in Bitcoin from eight wallets that initially received the funds on April 2 or May 4, 2011, according to data from blockchain intelligence firm Arkham. For more than 14 years, these assets remained untouched until last Thursday when they were transferred to eight new wallets, where they have remained unchanged since then. Grogan detailed that before the massive Bitcoin transfers, he detected a test transaction in Bitcoin Cash (BCH) made from one of the BTC whale clusters (large holders of Bitcoin), 14 hours before the main movement.