ChainCatcher news, according to @mlmabc monitoring, today a primitive whale massively sold BTC and went long on ETH, with initial funds sourced from BitForex, which has been criticized multiple times by on-chain detective ZachXBT.
This primitive whale has sold 2,970 bitcoins (approximately $334 million) in the past 24 hours and purchased 50,470 spot Ethereum (approximately $215 million), while also going long on 135,263 Ethereum on Hyperliquid (approximately $575 million).
ChainCatcher news, according to previous reports, on February 26, 2024, BitForex's hot wallet recorded an outflow of approximately $56 million on February 23. Shortly after this outflow, user withdrawal requests encountered processing delays, and the trading platform has yet to release any official announcements.
On July 20, 2024, BitForex announced that it would reopen withdrawal services after a five-month suspension due to an investigation, but trading and deposits will continue to be suspended, and withdrawals will require KYC verification.
