A giant whale/institution has recently accumulated $136 million worth of WBTC and ETH through circular lending on CEX in the last 6 days

PANews August 17 news, according to on-chain analyst Yu Jin's monitoring, a giant whale/institution has accumulated $136 million worth of WBTC and ETH through circular lending on OKX and Bybit in the last 6 days. They first withdrew some WBTC and ETH from OKX and Bybit and deposited it into Aave, then borrowed USDT and transferred it to Bybit, and continued to bring back WBTC and ETH from OKX and Bybit. So far, they have accumulated 918.6 WBTC ($108 million, average cost $118,833) and 6,218 ETH ($28.33 million, average cost $4,511) in 6 days. The borrowing on Aave amounts to $29 million.