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Bankrupt Shiba Inu Trillionnaire Gets Back Billions of SHIB, But There's a Catch

Tue, 07/11/2023 - 10:10
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Gamza Khanzadaev
Billions of SHIB return to bankrupt Shiba Inu holder Voyager, but it is not so clear-cut
Bankrupt Shiba Inu Trillionnaire Gets Back Billions of SHIB, But There's a Catch
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Unusual activity has been observed involving a wallet owned by the bankrupt U.S. crypto broker Voyager and the popular Shiba Inu token, SHIB. Yesterday, the wallet received a staggering 14.24 billion SHIB, equivalent to an astonishing $107,353.

XRP and SHIB Among Most Traded Currencies on Major Indian Exchange

According to explorer data, the source of funds for the Voyager wallet was a hot wallet belonging to renowned centralized crypto exchange Kraken. This transaction raises several eyebrows due to its peculiarity.

Earlier that day, a significant amount of Shiba Inu tokens, worth over $1.5 million and totaling 200 billion, were transferred from the Voyager account to two separate addresses. These tokens were subsequently dispersed across various addresses, including several centralized exchanges.

What adds to the intrigue is the fact that despite being bankrupt, the broker's wallet still retains an enormous amount of SHIB — 1.875 trillion to be exact — equivalent to a staggering $14.23 million. Therefore, the acquisition of an additional 14 billion tokens appears perplexing and raises further suspicion.

Voyager Reopens Withdrawals, Millions Vanish Overnight

The situation surrounding Voyager has recently seen some developments, as withdrawals were reopened on June 23. Since then, approximately $320 million worth of crypto assets have been withdrawn from the platform by clients. However, a considerable sum of $107 million remains on the platform.

As the story unfolds, it remains to be seen how this unexpected turn of events will impact the Shiba Inu token market.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.