Kraken to Anonymous: A $340 Million Bitcoin Transfer
CryptoNewsTerminal Staff31 May, 2024
Kraken to Anonymous: A $340 Million Bitcoin Transfer
Kraken, one of the world's largest cryptocurrency exchanges, recently transferred 4,999 BTC (approximately $340 million) to an anonymous address. This transaction was flagged by Whale Alert, a service that tracks large cryptocurrency transactions. The movement of such a substantial amount of Bitcoin has raised eyebrows in the crypto community, with some speculating about the potential reasons behind it. One theory is that the transfer is part of a larger over-the-counter (OTC) trade, where large crypto transactions occur off-exchange. Another possibility is that the Bitcoin was transferred to a hardware wallet for long-term storage. Whatever the reason, this significant transaction highlights the growing use of cryptocurrency for large-scale transactions.
