Amber Group Linked Address Withdrew $2.17 Million of MOG on Gate.io
CryptoNewsTerminal Staff08 Aug, 2024
Amber Group Linked Address Withdrew $2.17 Million of MOG on Gate.io
Blockchain analytics firm ScopeScan reported via X that an address linked to Amber Group withdrew $2.17 million worth of MOG tokens from Gate.io on June 14, 2023. This withdrawal comes amid increased scrutiny of Amber Group's financial health, following the collapse of Three Arrows Capital (3AC) and the de-pegging of TerraUSD (UST). Amber Group has denied any exposure to 3AC and UST, but the withdrawals have raised concerns among some market participants. It is unclear what the purpose of the withdrawal was, but it is possible that Amber Group is moving its assets to a different exchange or wallet. The withdrawal could also be a sign that Amber Group is facing financial difficulties and is trying to raise funds. Amber Group is a major player in the cryptocurrency market, and its financial health is of interest to many market participants. The withdrawal of $2.17 million of MOG tokens from Gate.io is a significant event, and it will be closely watched by the cryptocurrency community.
