Fun

Spending a String of 20,000 BTC — 2 Bitcoin Whale Transactions Move Over $1.2 Billion

News Feed - 2021-11-02 11:11:49

Spending a String of 20,000 BTC — 2 Bitcoin Whale Transactions Move Over $1.2 Billion


On November 1, at block height 707,639, a blockchain parser caught two bitcoin whale transfers that moved approximately 19,876 bitcoin worth $1.2 billion in the mix of 2,819 transactions. Interestingly, the owner used a similar splitting mechanism the old school mining whale blockchain parsers caught, spending strings of 20 block rewards throughout 2020 and 2021. Bitcoin Whale Watching


Bitcoin whales are mysterious animals because in a blockchain world of pseudonymity we only see them when they move. Last year and this year as well, Bitcoin.com News has hunted a specific whale entity that spent thousands of bitcoin mined in 2010.


Every single time the whale spent the decade-old bitcoin that sat idle the whole time, the entity spent exactly 20 block rewards or 1,000 BTC. After the transfer, the wallets holding 1,000 BTC dispersed the funds into smaller-sized wallets.


According to the creator of btcparser.com, the close to 20K BTC transferred at block height 707,639 on November 1 shared similar splitting mechanics with the “20×50 awakenings.” The blockchain parser’s owner would guess that the entity spending the two transactions could be the same person or organization.


The special transactions stemming from block height 707,639 derived from the bitcoin addresses “15kEr” and “1PfaY.” The 15kEr address transferred 9,900.87 BTC, while 1PfaY spent 9,975.31 BTC. One of the bitcoin addresses’ splitting methods (pictured left) and the blockchain explorer data recording the 19,876 bitcoin moved on Monday (pictured right).


The two transactions were filtered among 2,819 BTC transfers with 6,406 inputs recorded in block 707,639. The output total in that block was 9,587 with 78,704.53 BTC dispersed. The two transactions stemming from 15kEr and 1PfaY, represented more than 25% of the BTC processed in block 707,639.


After the funds were sent, the nearly 20K BTC was split into 200 wallets with 100 BTC each. Then the bitcoin whale’s funds were split again into much smaller wallets until they finally consolidated into different amounts. The 2 Transactions Leveraged Moderate Privacy Tactics — 50 Bitcoin Block Reward From 2011 Spent 59 Blocks Later


Data from blockchair.com’s Privacy-o-meter for Bitcoin Transactions tool shows the wallet that sent the 9,975.31 BTC got a score of 60 or “moderate.” This is because matched addresses were identified and blockchair.com’s tool notes that “matching significantly reduces the anonymity of addresses.” The 9,900.87 BTC spend suffers from the same tracking vulnerabilities as matched addresses were also identified.


Alongside the close to 20K BTC transfer in two separate transactions, 59 blocks later 50 sleeping bitcoins that had sat idle since April 28, 2011, were transferred at block height 707,698. The 50 BTC sat idle for over ten years since the day they were mined and when they were transferred, the exchange rate for the block reward of 50 BTC was just over $3 million.


Blockchair.com’s privacy tool indicates the transaction got a score of 0 or “critical.” A critical score means that the tool “identified issues [that] significantly endanger the privacy of the parties involved.”


What do you think about the 20,000 bitcoin sent in two transactions at block height 707,639? Let us know what you think about this subject in the comments section below. Crypto Network Hashrates Recover From Summer Slump — Ethereum"s Hashrate Captures All-Time High NEWS | 5 hours ago Gaming Giant Ubisoft Mentions Blockchain in Recent Earnings Report NEWS | 11 hours ago Tags in this story 100 BTC each, 2 transactions, 200 Wallets, 20000 coins, 2011 Block Reward, 20K BTC, 50 BTC, address 15kEr, address 1PfaY, BH 707639, BH 707698, Bitcoin, Bitcoin (BTC), Bitcoin Whales, Block Height, BTC, BTC Whales, Btcparser.com, moving whales, Whale Movements, Whale Transfer


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years
Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years U.K. police have revealed how much cryptocurrency they have seized in the past five years in response
Don’t be too quick to ‘poo-poo’ memecoins: Arthur Hayes
Tom Mitchelhill6 hours agoDon’t be too quick to ‘poo-poo’ memecoins: Arthur HayesBitMEX co-founder Arthur Hayes believes the crypto industry should think twice before writing off all memecoins as “stupid and valu
Over 75% of Web3 games ‘failed’ in last five years: CoinGecko
Brayden Lindrea8 hours agoOver 75% of Web3 games ‘failed’ in last five years: CoinGeckoThe “failed” blockchain games are those that have seen their 14-day moving average number of active users down more than 99%
Jesse Coghlan8 hours agoSam Bankman-Fried found guilty on all 7 charges in FTX fraud trialU.S. Attorney Damian Williams called Bankman-Fried’s crimes “a multibillion-dollar scheme designed to make him the king of cry
Ana Paula Pereira3 hours agoApple, Goldman Sachs drop plans for trading app: ReportInitial plans called for a 2022 rollout, but economic conditions caused the project to be reportedly shelved last year.872 Total views14
Biggest Movers: SOL Slips Again as ATOM Drops 10% to Start the Weekend
Biggest Movers: SOL Slips Again as ATOM Drops 10% to Start the Weekend SOL was trading lower to start the weekend, as prices slipped on Saturday. This comes as bears re-entered the
Cypher core contributor admits to stealing $260K and gambling it away
Jesse Coghlan7 hours agoCypher core contributor admits to stealing $260K and gambling it awayThe contributor, “hoak,” said their actions were due to a “crippling gambling addiction” and “psychological factors t
Venture Capitalist Bill Gurley Prefers Ethereum to Bitcoin, Takes Personal Position in ETH
Venture Capitalist Bill Gurley Prefers Ethereum to Bitcoin, Takes Personal Position in ETH Venture capitalist Bill Gurley has taken a personal position in ether because he “
Polkadot (DOT) Nears Critical Zone: A Reversal Could Trigger 180% Surge
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Crypto super PAC Fairshake just lost a billionaire Dem donor: Report
Jesse Coghlan3 hours agoCrypto super PAC Fairshake just lost a billionaire Dem donor: ReportTop Democratic Party donor Ron Conway has split from pro-crypto Fairshake PAC after it pledged to back a Republican candidate wi
Crypto Companies Establish Presence, Hire Talent in Ireland
Crypto Companies Establish Presence, Hire Talent in Ireland With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired d
Defi Platform Compound Bug Allows Users to Claim $88 Million in Tokens
Defi Platform Compound Bug Allows Users to Claim $88 Million in Tokens Compound, one of the trademark defi protocols on the Ethereum blockchain, is experiencing a bug that allows u