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Shiba Inu: Dormant Address Sends Billions of SHIB Tokens to Bankrupt Crypto Broker Voyager

Thu, 03/02/2023 - 10:37
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Tomiwabold Olajide
Dormant address sends billions of SHIB tokens to Voyager
Shiba Inu: Dormant Address Sends Billions of SHIB Tokens to Bankrupt Crypto Broker Voyager
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The Twitter account dedicated to alerts from blockchain security firm PeckShield has reported that bankrupt crypto broker Voyager recently received 68 billion SHIB worth over $820,000 from a dormant address it labels "0x31FC."

According to PeckShieldAlert, the address bought the 68 billion Shiba Inu tokens, which were worth $528 at the time, two years ago. After the address transferred the SHIB tokens, Voyager moved 300 billion SHIB worth $3.7 million to crypto exchange Coinbase.

Aside from the transfer of SHIB, Voyager moved 4,000 ETH worth $6.6 million and five million VGX tokens worth $2 million to Coinbase. After transferring the assets, the Voyager-labeled address received over 50 million USDC from Coinbase within the last eight hours, PeckShieldAlert reports.

According to on-chain data provider Lookonchain, bankrupt crypto broker Voyager seems to have been selling its assets through Coinbase recently.

2.24 Trillion Shiba Inu (SHIB) Liquidated by Bankrupt Crypto Broker in Weeks

As earlier reported, 2.24 trillion SHIB worth $28 million was transferred from Voyager to Coinbase starting on Feb. 14.

During the week, another 300 billion SHIB was spotted being moved to the exchange by the bankrupt crypto broker.

SHIB burn rate up 159%

According to the Shibburn website, a total of 10,939,295 SHIB tokens were burned in the last 24 hours. The SHIB burn rate is up 159% in the last 24 hours.

Meanwhile, 352,210,738 SHIB tokens were burned in February with 128 transactions.

SHIB Burn Rate Jumps 353% as Price Gains in Last 24 Hours

At the time of writing, Shiba Inu was down 3.34% in the last 24 hours to $0.00001196.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.