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One of Richest Bitcoin Addresses Holds $650 Mln Worth of BTC Stolen from Mt. Gox Exchange

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Tue, 19/11/2019 - 15:57
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One of Richest Bitcoin Addresses Holds $650 Mln Worth of BTC Stolen from Mt. Gox Exchange
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Casa CTO Jameson Lopp has noticed a tidbit in the most recent CoinMetrics report. It appears that the sixth richest Bitcoin address holds 79,956 BTC (approximately $650 mln at today's prices) that was stolen from the now-defunct Mt. Gox exchange.

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Ill-gotten coins

Notably, these coins have been touched since 2011 (the year they were stolen). It was either a very disciplined holder or someone who lost access to their private keys. CoinMetrics states that the latter is the most likely reason behind this eight-year silence.

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One of the biggest security breaches in the history of crypto occurred on June 19, 2011. The hacker was able to artificially tank the Bitcoin price to just $0.01 by creating a mammoth-size ask order.       

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Mysterious whales

It might be one of the richest addresses considering that the fattest Bitcoin wallets actually belong to cryptocurrency exchanges that use them as a cold storage.

As reported by U.Today, there are plenty of the so-called "zombie addresses," which haven't seen a single transaction in more than 18 months.

One enormous Bitcoin wallet is believed to be in the hands of an anonymous Asian billionaire.    

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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