Millions of Dollars Worth of Altcoins Withdrawn from Binance Wallet Address Starting with 0x865 - Latest cryptocurrency news

Millions of Dollars Worth of Altcoins Withdrawn from Binance Wallet Address Starting with 0x865

It has been reported that a wallet address starting with 0x865 has withdrawn millions of dollars worth of altcoins with two important transactions from Binance. On November 30, 2023, this crypto whale made significant transactions by withdrawing 60,000 BNB ($13.73 million) and 1.6 million MATIC ($1.22 million).

Prior to withdrawing 60,000 BNB and 1.6 million MATIC from Binance, this major crypto whale had made a noteworthy asset withdrawal of $51.54 million in the last 18 hours. Previously, the whale had attracted attention by withdrawing 10,000 ETH ($20.3 million), 45,000 BNB ($10.2 million), 300 billion SHIB ($2.47 million), 260 million IOST ($2.4 million), 16 million CHZ ($1.18 million), and $3,339 worth of JASMY, MKR, GALA, ARB, OP, and GRT from Binance.

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According to the data obtained from the blockchain, the wallet address was created 175 days ago on June 8, 2023, and it was relatively new. Despite being new, it was remarkable that this whale started accumulating a significant amount of cryptocurrency in a short period of time. When the details of the whale’s wallet address were examined, it appeared that they held various altcoins worth $53.36 million.

The withdrawal of altcoins worth more than $51 million from Binance raised speculation that it could be related to issues on the exchange. As it is known, following a lawsuit filed by the US Department of Justice, the US Treasury Department imposed a $4 billion settlement fine on Binance last week.

There is currently no official statement regarding Binance selling their cryptocurrencies to pay this fine. However, it is possible that Binance may have to sell a portion of their assets to pay the hefty penalty.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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