XRPL Monitor has just reported that the major South Korean Bithumb exchange has moved a jaw-dropping amount of crypto – almost 700 mln XRP – to an anonymous wallet.
According to the Bithomp website, which offers analytics on XRP transactions, this anonymous address was set up by Bithumb itself. So this may have been simply an internal reshuffling of funds.
699,999,981 mln XRP totals $141,383,381. The fee that Bithumb paid for transferring this enormous amount is only 0.00001 XRP, which no bank would have been able to offer.
Recently, on June 1, Ripple released its regular amount of one billion XRP from its escrow vault. However, 800 mln of it was sent back on the same day.
The San-Francisco blockchain decacorn conducts this operation regularly on the first day of each month.
Arman Shirinyan
Alex Dovbnya