Preamble: it seems that my post was censored and removed on r/bitcoin… from now I will only publish my articles on r/btc and crosspost it. Freedom matters to me.
This is the 4th post of a series of articles dedicated to investigate $1B worth of bitcoins (111,114 BTC/BCH/… BXX) that were dormant since 2014 and started moving actively. The BTC coins were originally located at this address (1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a).
- The facts that part of this funds (>13%) have been transferred in the past month to Bitfinex, Binance and Bitmex exchanges is discussed here.
- The origin of the bitcoins was originally discussed here.
- A deep-dive into the wallet activity was discussed here.
Today I am writing a short update to discuss the origin of the funds and some events that could be related both to this wallet and yesterday’s price crash.
This question has been discussed a lot by the crypto community in the past year.
Here is a summary of the most probable hypothesis for the wallet’s origin:
- a SilkRoad user or DPRs wallet per this post: https://bitcointalk.org/index.php?topic=310600.0
- a MtGox cold wallet that has been seized or is still owned by MtGox: in fact the wallet funds moved in March 2014 right after MtGox filed for bankruptcy one month earlier in February 2014; these movements dates are really similar to the 200,000 lost coins “found” by Karpeles which moved March 7th, 2014 (1dda0f8827518ce4d1d824bf7600f75ec7e199774a090a947c58a65ab63552e3), just 2 days before the movements on the wallet we are talking about here.
- a whale wallet since the major part of the 111,111 coins are coming from a very old deposit of 37,421 coins processed on June 21st, 2011 making this an early adopter’s wallet (70d46f768b73e50440e41977eb13ab25826137a8d34486958c7d55c5931c6081)
Wizsec, a prominent Bitcoin security expert, seems to be pretty sure that the wallet belongs to a MtGox hodler and early investor, who is not a DPR or a SilkRoad user, per his Twitter post: https://twitter.com/wizsecurity/status/1037030003068653569
Finally, Wizsec and I agree that this wallet is not CSW`’s wallet despite it is mentioned in several court documents. Wizsec spent a lot of time debunking CSW’s ownership claims earlier this year: https://twitter.com/wizsecurity/status/968337084837781504
What do you think about this wallet origin?
BTC price crash
Also, I wanted to report some events that could be related to this 1933f wallet activity:
- $100M USDT were transferred (reported by u/whalecheetah) while the 1933f wallet owner was in the process of transferring approximately the same amount to several exchanges;
- a 10,000 BTC buy order was filed last night on Bitmex with 8,030 BTC transferred from a Bitfinex user wallet while the 1933f wallet owner transferred approximately the same amount of BTC to Bitfinex since August, 24th. Was this deal prepared or was the buyer a bitcoin angel?
In the light of this yesterday’s price crash, do you think the $100M transferred to the exchanges caused it?