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20 million USDT transferred to and from Huobi exchange to unknown wallets




20 million USDT transferred to and from Huobi exchange to unknown wallets
Source: Unsplash

Despite the ongoing Tether and Bitfinex fiasco, USDT movement hasn’t waned. There are massive transactions that have been moving Tether between various exchanges and the Tether treasury.

Two massive transactions involving Tether were recorded, moving in and out of Huobi, a Chinese exchange.

Source: Omni Explorer

The first transaction transferred 10 million USDT from 1FwWBMfwxE9ngQ5DJKHFQsZ1wqpfD1sjpk to 1EPDc4Cw4xiqsoWCHnWepfwbqWLcBFamwm. The sender had a balance of 22 million USDT, while the receiver had zero balance and this transaction took place on the Omni Explorer.

@Whale_Alert tweeted the same transaction. However, the user mentioned that the above transaction was sent to Huobi from Binance.

However, CZ confirmed that this transaction didn’t originate from Binance.

Source: Tronscan

The second transaction transferred a total of 9,999,999 USDT from TNaRAoLUyYEV2uF7GUrzSjRQTU8v5ZJ5VR to TAyAA1xjZGyjQYP8UHp5qFtRcLgUG2XnPi. This transaction was different from the first because the second transaction took place on the Tron Blockchain, instead of the usual.

Tron has been a competitor to Ethereum and has already surpassed Ethereum’s all-time high transactions. Tron also launched a program to issue USDT on the TRX blockchain. This was announced on April 17, 2019. However, due to the recent Bitfinex and Tether lawsuit, Tron’s USDT giveaway plan was postponed indefinitely.

The sender of the ~10 million USDT on the TRX blockchain had a total balance 61,103 USDT, while the receiver had 16.3 million USDT.

A Twitter user, @random_exp, commented,

“This is coming from the @TMZ in cryptos of the likes @CryptoChico…”

Another Twitter user @ISayHowItIs, commented,

“best CEO ever = @cz_binance and hack just make him stronger and more open to community. Other exchanges CEO’s this is a great example for you how to #BUIDL and even worst happen still exist with huge community support!”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time writer at AMBCrypto and a part-time novice trader.


Whale Alert: Massive $300 million transfer takes place on Binance Chain; funds SAFU, says CZ

Biraajmaan Tamuly



Whale Alert: Massive 300 million BNB Coin transfer takes place on the Binance Chain; CZ responds amidst transaction
Source: Pixabay

Binance, one of the world’s largest cryptocurrency exchanges, has been having a wonderful year in terms of new developments, such as their new Binance DEX and the massive growth of Binance Coin [BNB]. Binance’s native token has grown by approximately 500 percent in 2019 alone.

The exchange also recently announced the launch of BTCB, with an objective to provide a crypto-asset pegged to BTC’s value for trading purposes on Binance DEX, with the assets being backed by Binance itself.

Binance’s ecosystem is progressively active and it was recently observed and reported by Whale Alert, an online cryptocurrency-transaction tracker, that a sum of approximately $302 million, equivalent to around 8 million BNB coins, was transferred on the Binance Chain.

The transaction took place of 26th January 2019, with a time stamp of 07:52:56 UTC. It was sent from an unknown address, bnb1jkvrjawcd8wlugk8455wqjggxecyxj9uf0g7uy, to another unknown wallet, bnb13wmeg7ypkcr39wnzy2q02mku2qemnrm4kclezs, for a transaction fee of 0.000375 BNB. The block height of the transaction was #15820220, and it was deemed a successful one.

Following the massive transfer, Changpeng Zhao, CEO of Binance, responded on Twitter regarding the transfer and claimed that the current movement was a rotation of funds between some cold wallets.

CZ suggested with a linked tweet that the movement of funds should not necessarily raise any alarms as the funds were SAFU.

In another tweet, CZ  stated that there were currently 4 addresses that were holding 8 million BNB coins each. A total of $32 million BNB was unlocked for the Binance team. However, it was understood that the tokens were not spent and saved in the addresses themselves.

It is speculated that CZ took the initiative to list the reason for the massive transfer as previously, huge BTC transfers, which included a Coinbase wallet transfer, was accused of market manipulation.

At press time, BNB coin was priced at $37.30, experiencing a hike of 1.87 percent over the past 24 hours.

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