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[Josemendez]

On July 2 2021 , Whale Alert blockchain sleuth detected about 600,000 Ethereum worth around $1.28 Billion at $2040 per ethereum moved to an annoymous address by the world largest cryptocurrency exchange , Binance.


Some crypto analyst believes that it can be because of the present issues faced by Binance from regulatory Authorities.

What do you think that could have prompted Binance to move such huge amount of ethereum ?

 

[Niftyicon]

Those attacks could be part of it but could also simply mean some whale is just trying to keep his ETH on safer wallets for long term hodling.

 

[microunit]

This is probably for the better considering now that binance is the target of attacks. Though the thread details stated on the last sentence that Binance is the one that moved the ethereum?

 

[Wisdom01]

Maybe its because of the much regulatory problem binance is having , I just hope its been sorted out , because regulatory issues might make it a tough one for binance and most users

 

[ElPaule]

On July 2 2021 , Whale Alert blockchain sleuth detected about 600,000 Ethereum worth around $1.28 Billion at $2040 per ethereum moved to an annoymous address by the world largest cryptocurrency exchange , Binance.


Some crypto analyst believes that it can be because of the present issues faced by Binance from regulatory Authorities.

What do you think that could have prompted Binance to move such huge amount of ethereum ?

This might be part of a consolation or a cleanup. I do understand that Binance was just the processor. Maybe there is someone who just want to keep his wealth safe from regulators that approach Binance lately

 

[Wisdom01]

This might be part of a consolation or a cleanup. I do understand that Binance was just the processor. Maybe there is someone who just want to keep his wealth safe from regulators that approach Binance lately

Well this might be true maybe in the case of fraud , the person might feel the regulators might use the regulatory on binance to track him or her so anything can happen it might be a reason too

 

[Josemendez]

Those attacks could be part of it but could also simply mean some whale is just trying to keep his ETH on safer wallets for long term hodling.

It is not coming from any whales. The money was moved by Binance itself not their investors ,so Binance knows the reason why it happened

 

[Wisdom01]

It is not coming from any whales. The money was moved by Binance itself not their investors ,so Binance knows the reason why it happened

Thought it was moved by whales itself and this looks suspicious,then more regulation might be placed on them with this action they carried out

 

[BullyMaguire]

Well taking out your crypto offan exchange is logical isn't it? Maybe they are looking for a long term hodling now since ETH is predicted to sky rocket

 

[Josemendez]

Thought it was moved by whales itself and this looks suspicious,then more regulation might be placed on them with this action they carried out

Seems you didn't get my last message. The fund was moved by Binance as a body not a whale. People are thus concern on why this happened.

 

[Yugocean]

I am not 100% sure how someone know that Binance moved Ethereum, and that too to anonymous address?
When Address is not known, then how to know it was Ethereum and not Bitcoin or other crypto?

 

[Brain]

Why do I have the feeling that it might be a whale doing the movement. I think it is for safety. The wallet that it is being sent to might just be the safe haven for it

 

[LutherKing]

Good amount of money actually but if it helps them nothing bad , they have just moved it to a wallet haven't done a sin to be honest actually .

 

[achawaskey]

I can't really say because the reason is best known to them, but whatever reason it is, it meant be an advantage to ethereum. We will surely know with time.

 

[SCAMEXPOSER]

I am not 100% sure how someone know that Binance moved Ethereum, and that too to anonymous address?
When Address is not known, then how to know it was Ethereum and not Bitcoin or other crypto?

There are trackers online that can easily identify such movement. Personally the ethereum might be moved due to threat from hackers. The coin is likely to helding to cold wallet.

 

[Yugocean]

This is more logical, Exchange platform do not use real crypto on customers' account, they use in cold wallet and only used for transaction when user request withdraw.

 

[SCAMEXPOSER]

This is more logical, Exchange platform do not use real crypto on customers' account, they use in cold wallet and only used for transaction when user request withdraw.

Yeah which is the best for a very big platform like Binance because no doubt on every seconds there might be an attempt to hack the platform.