Bitcoin News and Finance
Spending a String of 20,000 BTC — 2 Bitcoin Whale Transactions Move Over $1.2 Billion Skip to main content

Spending a String of 20,000 BTC — 2 Bitcoin Whale Transactions Move Over $1.2 Billion

Spending a String of 20,000 BTC — 2 Bitcoin Whale Transactions Transfer Over $1.2 Billion

On November 1, at block height 707,639, a blockchain parser caught two bitcoin whale transfers that moved approximately 19,876 bitcoin worth $1.2 billion in the mix of 2,819 transactions. Interestingly, the owner used a similar splitting mechanism the old school mining whale blockchain parsers caught, spending strings of 20 block rewards throughout 2020 and 2021.

Bitcoin Whale Watching

Bitcoin whales are mysterious animals because in a blockchain world of pseudonymity we only see them when they move. Last year and this year as well, Bitcoin.com News has hunted a specific whale entity that spent thousands of bitcoin mined in 2010.

Every single time the whale spent the decade-old bitcoin that sat idle the whole time, the entity spent exactly 20 block rewards or 1,000 BTC. After the transfer, the wallets holding 1,000 BTC dispersed the funds into smaller-sized wallets.

According to the creator of btcparser.com, the close to 20K BTC transferred at block height 707,639 on November 1 shared similar splitting mechanics with the “20×50 awakenings.” The blockchain parser’s owner would guess that the entity spending the two transactions could be the same person or organization.

The special transactions stemming from block height 707,639 derived from the bitcoin addresses “15kEr” and “1PfaY.” The 15kEr address transferred 9,900.87 BTC, while 1PfaY spent 9,975.31 BTC.

The two transactions were filtered among 2,819 BTC transfers with 6,406 inputs recorded in block 707,639. The output total in that block was 9,587 with 78,704.53 BTC dispersed. The two transactions stemming from 15kEr and 1PfaY, represented more than 25% of the BTC processed in block 707,639.

After the funds were sent, the nearly 20K BTC was split into 200 wallets with 100 BTC each. Then the bitcoin whale’s funds were split again into much smaller wallets until they finally consolidated into different amounts.

The 2 Transactions Leveraged Moderate Privacy Tactics — 50 Bitcoin Block Reward From 2011 Spent 59 Blocks Later

Data from blockchair.com’s Privacy-o-meter for Bitcoin Transactions tool shows the wallet that sent the 9,975.31 BTC got a score of 60 or “moderate.” This is because matched addresses were identified and blockchair.com’s tool notes that “matching significantly reduces the anonymity of addresses.” The 9,900.87 BTC spend suffers from the same tracking vulnerabilities as matched addresses were also identified.

Alongside the close to 20K BTC transfer in two separate transactions, 59 blocks later 50 sleeping bitcoins that had sat idle since April 28, 2011, were transferred at block height 707,698. The 50 BTC sat idle for over ten years since the day they were mined and when they were transferred, the exchange rate for the block reward of 50 BTC was just over $3 million.

Blockchair.com’s privacy tool indicates the transaction got a score of 0 or “critical.” A critical score means that the tool “identified issues [that] significantly endanger the privacy of the parties involved.”

What do you think about the 20,000 bitcoin sent in two transactions at block height 707,639? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory