Bitcoin Transaction

[WOODY1969]

Hi all, don't know what's happening her hopefully some one can help me, I am expecting to receive some bit coin so I have gone to [Suspicious link removed] and typed in my wallet address to finds that my wallet address has apparently send (red arrow) 6.9btc to another wallet address I don't know about, I have not even made that transaction and I haven't got any btc in my account to send anyway what's happening here?

[1714950721]

1714950721

[1714950721]

1714950721

[DannyHamilton]

Hi all, don't know what's happening her hopefully some one can help me, I am expecting to receive some bit coin so I have gone to [Suspicious link removed] and typed in my wallet address to finds that my wallet address has apparently send (red arrow) 6.9btc to another wallet address I don't know about, I have not even made that transaction and I haven't got any btc in my account to send anyway what's happening here?

What wallet are you using?

Bitcoin Core?
Electrum?
Something else?

[WOODY1969]

Hi wallet is Payza

[HCP]

Payza looks very much like some sort of payment facilitator, a bit like Paypal?

Most online services like this, don't give you direct access or control over the bitcoins, you basically just have an "account balance" which is a number in their database. Because of this, it is not unusual to see Bitcoins moving to/from any addresses that you might deposit to or send from.

Without the Bitcoin address in question it's a little hard to tell, but I suspect that like most websites that allow you to "deposit" Bitcoin, you're sending coins to a specific deposit address which you have no control over and do not "own". These payments are then collated into the services storage wallets (hence the large amounts of BTC that you have no knowledge of) and your account is credited with $X or Y BTC.

Think of it a bit like going to your bank and depositing $100.00 at the teller (sending BTC to your deposit address)... your $100 note just gets put in to the cash drawer with all the other notes (all the BTC being collated into one storage address)... Your account then gets credited with the deposit and your balance goes up.

So, what you're most likely seeing is just Payza moving coins around "behind the scenes".

[WOODY1969]

Thanks for the info HCP
I hope that is the case just payza moving money around, you are right payza is a bit like paypal for crypto and fiat currency I can buy btc and convert them back to my fiat currency