Bitcoin Forum

The address below has received 94,500 bitcoins.
37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs
According to what I read in some reports, it is the richest non-exchange address. I also read that at least one third of these bitcoin has been transferred from Huobi exchanges. As Withdrawing that big amount of bitcoin from Huobi exchange require KYC, so Huobi should know the person behind this transaction.
Assume that the government find this transaction suspicious and want to know the owner of these bitcoins. The government can force Huobi to give them the documents of the owner of this wallet. Huobi can be forced by court if they don't give those documents to government.

And then what? The government can't release it to the public. By the time they get the information if that person is in China he or she will be long gone. At least they should be if they start to expect the government is out to get them.

They can't be arrested for owning bitcoins and they can buy citizenship wherever they want including countries with no bitcoin tax like Malta.

Yeah, I think whoever owns $ 1 billion will find a way to stay anonymous.People with that much money know how to do it.And the exchange( in principle any) under pressure from regulators will tell absolutely everything about the owner.(at least I think so).

I don't know how it works, but if the person is from some random country, and Huobi is from Singapore, there is a lot of obstacles about jurisdiction, international laws, the kind of relation between countries...
This is not so simple

Source: $1B BITCOIN TRANSACTION TRACED BACK TO MULTIPLE HUOBI ADDRESSES (https://bitcoinist.com/1b-bitcoin-transaction-traced-back-to-multiple-huobi-addresses/)

Someone also on the Speculation section has monitored this wallet and posted just after the transactions were made.

This was the thread: https://bitcointalk.org/index.php?topic=2076717.20

I think whoever that person is intelligent enough to cover their identity and will act accordingly to not expose who he/she is unless doesn't care about personal security.

Is this really a transaction of a certain "person"? I highly doubt it is. 1 Billion USD in Bitcoin alone and owned by a single person? This is unlikely. My hunch is that this is owned by an institution or a company.

Or do you think it is just a coincidence that after the move Bakkt announced its opening of its Bitcoin warehouse?

"It looks like the address of an entity like Bakkt or perhaps VanEck..."

Source: https://www.trustnodes.com/2019/09/06/bakkt-opens-warehouse-hours-after-94000-bitcoin-move

lol. just another large transfer which "news sites caught" so everyone is going crazy about it these days. otherwise there are a lot of other transactions like this happening and lots of addresses with large amounts stored in them but people don't talk about only because the news sites never put them on their radar!
here are some examples;
and out of this 10, only 5 of them are obvious exchange wallets!

Go ahead if you want to know who is the person. But then after you know that person, what you will do? Do you want to ask him to send some bitcoin to you?

I think let them have that bitcoin, and we don't have to search who is behind that wallet because we have a more important thing that we should do now than to know that person. But it is up to you, and you have the plan ;D

Do you think that a guy with a billion dollars in his account would give his real identity to some random exchange.
If he manage to keep that amount of bitcoin till now, for sure he is not some random stupid guy.
I'm sure no one will ever know who that guy is...

more likely the exchange moving from hotwallet to cold wallet/vault

Wasn't it also suggested that this was either a huge send to a Bakkt warehouse wallet (they started the service on the same day) or a pre consolidated send from earlier smaller clients.

I don't think it would be easy to determine that until Bakkt is operational. Should be a matter of time only.

I agree that this is just a journalistic exaggeration, they use fiat value instead of BTC, $1 billion sounds a lot better then 94,500 BTC. We need to be aware that there are people who have invested in Bitcoin from the beginning, as miners or just by buying coins with fiat.

Bitcoin is in its beginnings interesting to a very small circle of people, mining was easy and price low - so amounts of 90k BTC even being in the possession of one person is not strange. Even in 2014 one person (Tim Draper) bought 30 000 BTC in auction which cost him just $18 millions.

Well that is indeed the largest non exchange address but i think news website are little overexaggerating. we saw people holding larger amounts of bitcoins roger ver, was holding around 300k btc reportedly dumped for exchange of bitcoin unilimited in 2017 i don't if he did actually done it though, and also we have the largest bitcoin transaction which was done in 2011 valued at 500,000 btc i don't know what exactly happened but 194k bitcoin was part of 500k btc was dumped in bitstamp in 2013. anyways, the 94,000 bitcoin transaction is back at huobi exchange after the speculators seen the transaction lol.

I suspect its Vitalik Buterin. How many people has 1 billion worth of cryptos?

Its definitely a possibility that this is owned by a single person, there is a lot of hidden wealth in the world.  The forbes list is not the true list of wealthiest people in the world. 


If I was sending these types of amounts I would be checking the address 20 times and would still be super nervous about doing it correctly even though I've sent and received bitcoin many times in the past.

As long as the person has no criminal record, the government will do anything about it. But I don't like the idea of transferring fund from a centralized exchange to my main wallet, and this person's wallet is massive. Nothing to fear though, but keeping one's identity in a region that the government is still confused about bitcoin can be wise.

Yes, I also wanted to ask this question. If the sender's address belongs to Huobi exchange, it does not mean that the recipient's address belongs to a specific person. After all, it could even be Huobi transferring the money to a different wallet for their own reasons. Or something related to Bakkt, I saw people suggesting it before as well. And I don't understand why there's so much hype around this transaction. Clearly, as the price indicates, this movement is not related to buying/selling BTC, seems to be more of an operational thing.

This is just pointless drama.Whoever it is,it doesn't matter that much for the crypto world.I think those bitcoins belong to a company,not an individual.It would be nice to have more crypto whales,who have more thna 1billion USD stored in bitcoin,but it would be more dangerious as well,because those people can do whatever they want with the bitcoin price.

My money is on "Bakkt" but I have nothing to back this opinion. It is a new service, so there are not a lot of tracking history to determine what service this is, like most of the other services that were identified through their transaction history.  ;)

A 1 Billion dollar transaction on the Stock exchanges will hardly get noticed, because institutional investors move that kind of money with a single click of a button, while they are eating a sandwich with the other hand.  :P 

Reports right now are over exaggerated to be honest. They will add different things to what really happened and that is why I don't read anything about this popular websites.

There are many theories with this recent transaction. It can be a huge and popular institution and they just remained silent. It can be their own exchange address too and they just transferred some of their funds. Whatever happened to this, I don't care because I don't see any benefit from me with what happened.

there has to be suspecious activity for ask the identity.i dont know the law completly but even government ask for it and huobi gives, that person can demand his/her secrecy so i dont think we can learn who he/she is.

Agreed, he/she can even hire someone to show identity for him. Though he/she will still have a hard time to withdraw this amount on cash.

Yes, I agree that can be an adress of the own exchange, but it's doesn't matter for us, it's just curiosity, there's no benefit from this
The fact that bring us attention is the total amount in BTC, we always talk about this kind of transactions  ;D

A lot of huge transfers has already done and I don't think the government will be looking at this. Also, I think the site has the right to hide the identity of their customers, despite a huge amount of bitcoin transfered, the site might already checked this and see no problems.

I think it's possible to use fake documents for this sort of thing to avoid detection. If a person  want to be a little bit anonymous, he will likely use a non-kyc exchange or use fake identity on  kyc exchange.
If this truely is from that exchange, question is why use a kyc exchange when he could've easily used non-kyc exchanges to buy up all the BTC available there? It is possible the person/group doesn't care about being detected because sending huge money to an exchange isn't a crime

Base on others opinion, it can also be the money of exchange moving from one wallet to another and prolly getting ready for the said launch of Bakkt. Everything is a speculation and no one has confirmed information about that project.

And that's a sure thing if an individual owns that wallet but again, no one knows who's the owner is.

That makes no sense. Not in a hundred years will someone transfer a billion dollars worth of Bitcoin to a non compliant exchange-- heck, no one will even send such a high value to a compliant exchange.

Most of the whales who are genuinely interested in selling a large number of coins, do that by sending a portion to Coinbase, a portion to Bitstamp, etc. All to not lose a lot of money unnecessarily due to slippage.

The pump from $4000 to $5000 was said to be initiated by simultaneous buys on Coinbase, Bitstamp and Kraken. It's to get the most bang for their buck. Using just one exchange will cost you millions with such buy orders.

My take on this subject, I believe there is not only one person who owns this wallet. Maybe a group of individuals who in one way or another are trying to move their holdings to prepare for something big. If that big amount comes from huobi, more than likely that person who is currently managing that account has done the kyc stuff but the question is, if he is using legit docs. The exchange might have the information but who knows if they will ever disclose the owner of that address even if authorities are hunting them down.

It's now the job of huobi or whoever is/are responsible for monitoring and verifying that account through the generated address from their exchange.

And it's not our problem anymore if the verification has passed or if the owner just asked other people to verify the account. I think there will be news few days or weeks from now and there will be someone claiming this transaction.

It seems that some whales are trying to make a scene again but i don't think someone has the right on their mind to send a billion dollar bitcoin on a single exchange. If the government wants the personal information of that person i think it's the work of Huobi to decide whether they have to break the rules against to their customer or to the government.

Isn't it strange that someone sends all those coins to one address? That is, if I do not want to make a fuss, I will divide coins into smaller addresses and so on.
Anyone who wants to transfer Big amount like that aims to make a media fuss about it. Perhaps manipulation of prices or any other purpose, but is a known party/exchange/person/company and not anonymous.

What if it is huobi themselves that own the wallet because these exchanges are making lots of profit from their fees, from listing fee to trading fee, to withdrawal fee, they make so much money and you now that huobi is still one of the biggest exchanges that we have in the market today.

Imagine that they are the owner because whoever own that bitcoin cannot be an individual, I know that whales could also be responsible for that because I think I read somewhere about this too, how they moved it, but if they had moved it out of the market, they would have crashed the market seriously and if it was moved into the market, then we ought to have seen some major increase in the value of bitcoin, so I don’t think that BTC belongs to an individual.

Whales like to do this often, they move around huge amounts of coins so people think they are being dumped on the market causing the prices to crash and then they can pick up more cheap coins

I suspect that one of the top 10 wealthiest people in the world hold at least 1 billion dollars in bitcoin.  Maybe Zuckerberg

Where are you getting this info? It sounds like you are guessing. Even if the government (whichever government that is) attains these documents, so what? There is nothing they can do.
Nothing wrong with moving around something that is yours no matter what sort of currency it is.

He'd probably pay ton of money just to keep his identity secure, probably pay someone to act with documents to submit to pass kyc to keep away from people who will potentially track him and kidnap his son/daughter for ransom. He'd do a lot of troubles to hide his email and name.

If there is no suspicion of illegal activities or money laundering no one should be interested in revealing this person's identity, especially when it comes to authorities Although I guess many are very curious.
Still Bitcoin is not anonimous today as it used to be and I think with some efforts that transaction and person could be traced.

It's just a suspicion they need a court order to to be able to force Huobi to give them the documents and there's no guaranty either that they are going to catch the right guy, what if he hires people to do KYC in Huobi, he can do that because he has the money.
And with that huge amount of money, he can hire legal to evade arrest and go from one place to another.

Seems so. If the wallet address belongs to someone, then maybe it's an old Bitcoin player. Is that really a blue whale. or Maybe people used to be lucky when Bitcoin was still worth the piece of cake. Of course, many possibilities.

Huobi is currently based in Singapore and they have offices in the United States, Korea, Japan and Hong Kong. They have users from all over the world and the nationality of this particular individual may be difficult to establish. Now the Singapore government can't force the exchange to reveal the identity of the user, as he may not be a SG national. On top of that, Singapore is not an authoritarian nation like China to dictate the terms and conditions to cryptocurrency exchanges.

That said, I still have doubts on whether this particular address is being held by an individual or a business firm (such as a cryptocurrency exchange). Individuals are unlikely to hold this much coins in a single wallet. They are likely to split their holdings, in order to avoid the threat from hackers. Normally it is the exchanges who keep this much volume in a single wallet. Lots of people are claiming that this is not an exchange wallet address... but I am still not 100% convinced.