CoinVoice has learned that, according to @mlmabc monitoring, today an ancient giant whale is massively selling BTC and going long on ETH, with initial funding sourced from BitForex, a trading platform that has been criticized multiple times by on-chain detective ZachXBT. This ancient whale has sold 2,970 bitcoins (approximately $334 million) in the last 24 hours and has bought 50,470 ether spot (approximately $215 million), while also going long on 135,263 ethers on Hyperliquid (approximately $575 million). CoinVoice has learned that, 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 occurred, user withdrawal requests faced processing delays, and the trading platform has not issued any official announcement to date. On July 20, 2024, BitForex stated that it would reopen withdrawal services after a five-month suspension due to an investigation, but trading and deposits would continue to be suspended, and withdrawals would require KYC verification. [Original link]

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