Bitcoin (Bitcoin) The exchange may have just seen its biggest user fund outflow to date, data suggests.
Data from an on-chain analytics company glass node It shows that on November 23rd, monthly withdrawals on major exchanges decreased by about 179,000 BTC.
Major Exchanges See Record BTC Withdrawals
As the FTX epidemic is still ongoing, exchange users are busy withdrawing funds to non-custodial wallets.
$3 billion worth of cryptocurrency, as reported by Cointelegraph left the main platform shortly after of FTX implosion.
Glassnode shows that trend continues, with its data capturing the largest ever decline in exchange BTC reserves over the 30-day period ending November 23rd.
Glassnode’s Exchange Net Position Change metric shows the 30-day change in BTC supply held in exchange wallets at -178,683 BTC. The indicator covers 20 exchanges including FTX.
The habits of exchange users remain volatile day by day. After November 9th alone he saw an outflow of around 140,000 BTC per day, the exchange reduced its withdrawal processing, hitting a local low of less than 19,000 BTC recorded on November 19th. Did.
However, the trend has since reversed, with outflows totaling over 86,000 BTC on Nov. 23, according to Glassnode.
HitBTC Acquires Mt. Gox Hacking Deposits
Elsewhere, fellow on-chain analytics platform CryptoQuant Raised A warning about a major tranche of BTC from the 2014 hack of the Mt. Gox exchange.
According to CEO Ki Young Ju, the stolen BTC was in transit and 65 BTC was sent to replace HitBTC.
“A 7-year-old 10,000 $BTC moved today. Naturally, it came from criminals, like most old Bitcoins. BTC-e in connection with the 2014 Mt Gox hack. It’s an exchange wallet, they sent 65 BTC to hitbtc a few hours ago, so it’s not a government auction or anything like that,” he said. murmured.
Ki asked HitBTC to freeze funds from incoming wallets.
On the other hand, in research other than Chainalysis, Focus on mass processing of Mt Gox coins It is related to the exchange BTC-e, which closed in 2017.
Several exchanges explained that they have received BTC-e bitcoins in recent weeks, along with private wallets and others. blog post November 23rd.
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