BitMEX's New Wallet Address Accumulates Over 10,000 BTC: Potential New Entity or Internal Transfer?
Crypto exchange BitMEX has been identified as the owner of a new wallet address that has rapidly accumulated over 10,000 BTC since November. On-chain analytics firm CryptoQuant confirmed that the wallet address, bc1qchctnvmdva5z9v********ck64v7nmzdtyxsrq64, belongs to BitMEX. The address is linked to the exchange’s cold wallet, which is a type of custody not connected to the internet. The largest transfer made was 566 BTC. CryptoQuant noted that the sending addresses are also associated with BitMEX and appear on the exchange’s Proof-of-Reserves report. The exchange is likely conducting an internal transfer as it migrates most of its bitcoin holdings from the 3BMEX format to addresses starting with "bc1qmex,” which support SegWit and allow for more efficient transactions with lower fees. According to Bitinfocharts, the wallet is currently the 74th largest holder of bitcoin.
Remember : generous contributions support our mission, enabling us to work diligently and provide you with the best investment advice. Your tips are instrumental in enhancing our efforts to serve you better.
