Fourth-Largest Bitcoin Wallet Mystery Owner Empties Account in One Fell Swoop

Fourth-Largest Bitcoin Wallet Mystery Owner Empties Account in One Fell Swoop

A Bitcoin (BTC) wallet well-known by hackers and treasure hunters in the crypto space for its sheer size is now empty. About 69.369 BTC was moved from a legacy wallet to a new native SegWit format address.

Up to this moment, the wallet remained a mystery. The owner of the wallet, who moved the funds, and why they moved the funds is completely unknown. The wallet was the fourth-largest Bitcoin wallet in existence and has remained intact all this while as a result of the cryptography that powers the Bitcoin blockchain.

The wallet was wiped on the 3rd of November 2020, with 69.369 BTC moved from address 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx. Interestingly, the transactions accrued a measly fee of 0.00087980 BTC for such amount. At press time (with a BTC valuation of $14,012), that transaction was valued at $972 million.

In just under an hour, the mystery wallet holder transferred close to $1 billion, without getting quizzed for KYC, AML, or other traditional policy hurdles, while paying a little over $12. This just goes to show how effective and swift Bitcoin is as a monetary option.

Meanwhile, although events like these almost always set Bitcoin on a bearish course, this event has gone largely unnoticed by the market and Bitcoin has waxed even stronger over the hours.

BTCUSD – 4-Hour Chart

Key BTC Levels to Monitor in the Near-Term — November 4

Bitcoin continued on its bullish spree on Wednesday as it has now broken a new record high at $14,274 just a few hours ago. The focus has now been turned to the $14,500 and $15,000 psychological level.

On the flip side, a fall below $13,866 could tip Bitcoin in favor of bears for a short while. That said, Bitcoin doesn’t seem to be letting up anytime soon.

Total market capital: $404.5 billion

Bitcoin market capital: $260 billion

Bitcoin dominance: 64.3%

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

 

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.