Suspected BitMine Wallets Withdraw 35,138 ETH Worth $58.39 Million From BitGo, Kraken
Summary
- OnchainLens said two newly created wallets withdrew a total of 35,138 ETH from BitGo and Kraken.
- The withdrawals were worth about $58.39 million.
- OnchainLens said the wallets were likely linked to BitMine, and that transfers from exchanges to private wallets are generally interpreted as a sign of accumulation for long-term holding.
Forecast Trend Report by Period
Two newly created wallets believed to be linked to BitMine have withdrawn a large amount of Ethereum.
On-chain analytics platform OnchainLens said June 23 that the wallets withdrew a combined 35,138 ETH from custody firm BitGo and cryptocurrency exchange Kraken. The tokens were worth about $58.39 million.
OnchainLens said the wallets were likely associated with BitMine-linked addresses. The transfers moved assets from an exchange and a custodian to private wallets, a pattern generally interpreted as accumulation for long-term holding.
shlee@bloomingbit.ioHello, I'm a reporter at bloomingbit
