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Author Topic: What is going on at this bitcoin address?  (Read 108 times)
up_on_crypto_creek
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May 11, 2018, 05:19:43 PM
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My friend says there's a transaction on his Ledger that he doesn't remember making, and when I follow the trail of transactions it leads to this Bitcoin address that has processed over 12,000 BTC over the last few months:

https://blockchain.info/address/3BtrzTc12u6JPaAuWaAmCJpRhEoDzNhPi6

It's taking in BTC amounts of 50 BTC, and then sending the BTC out in batches of 50 or 100.

I'm guessing that it could be a processing wallet for a major exchange, but I was wondering if you guys had any insights?

Thanks!
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mjglqw
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May 11, 2018, 05:27:12 PM
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If it's a transaction that he doesn't remember making and like you said the address is taking in and out a good number of BTC, then yes. It's most likely an exchange. Your friend might just did a deposit or a withdraw in the past that he/she doesn't remember. If your friend is a hundred percent sure that it isn't him/her that did the transaction, then tell your friend to hurry up and transfer his/her funds on a different wallet as his/her private keys might have been stolen.

up_on_crypto_creek
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May 11, 2018, 05:35:47 PM
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Thanks for this reply!

Right, my first guess is that it's an old transaction to an exchange that he forgot about, and it just took a while to post to the network.

This is especially my thought because the "send" amount was much smaller than the "change" amount on the transaction in question:

https://blockchain.info/tx/ed0ef1aba3d1daba9662532aa7f0516c17ef1691debe185e79d1e4e8b627ba1f

If it was a hacker, I would have expected them to just empty the whole wallet.

Another weird thing is that the change address is a bc1 address, which according to my research is a bech32 address, which wouldn't be supported by his Ledger unless it was connected to Electrum, which he says he hasn't used in years.

So weird.

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May 11, 2018, 05:52:15 PM
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If it was a hacker, I would have expected them to just empty the whole wallet.

If it was a hacker, it's really possible that the hacker is waiting for your friend to deposit good amounts of crypto to the address, for the hacker to have a bigger heist in the future. Personally I'd just transfer the funds over to another wallet. I'd take every safety precaution I can when talking about my investments.

up_on_crypto_creek
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May 11, 2018, 06:00:14 PM
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Ok, I'll definitely tell my friend to move all his funds off that Ledger asap.

I could see that a hacker might want to stay invisible and wait until more funds were added to the Ledger, but once their cover was blown with a rogue transaction I'd expect them to just take the money and run.

I'm not a hacker though, so there are surely other angles I'm missing.
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May 11, 2018, 06:04:38 PM
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It's Coinbase.

Transactions are related to this address and follow the same patern 3FweqKBS4re2NMAhseAykgs5WXC2aZvgcq



up_on_crypto_creek
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May 11, 2018, 06:09:42 PM
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It's Coinbase.

Transactions are related to this address and follow the same patern 3FweqKBS4re2NMAhseAykgs5WXC2aZvgcq


Awesome, stompix, thanks so much!

That also makes me think it's not a hack, because I would think Coinbase would be the LAST exchange a hacker would use to launder bitcoin, considering the wide array of options they have.
mudasarali43
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May 12, 2018, 08:40:07 AM
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I think you may need to get help from sender and receiver, where you wants to sent your bitcoin if any exchange and from where you are sending to put support ticket, i think it is the best solution,

Veterock
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May 18, 2018, 04:15:28 PM
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Maybe this person just quietly launder money?)) Why do you shed light on his activities?) Grin
sikaola
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May 21, 2018, 10:12:11 AM
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It can be a hacker or a wallet of some kind
maruf_h20
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June 09, 2018, 06:55:45 PM
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I think Bitcoin will create a revolution in the world economy in the near future. Bitcoin will become a simple name for currency exchange. Problems in the world of trade and transactions will easily be able to eliminate bitcoin.
luckybit1
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July 10, 2018, 05:29:07 PM
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It's an old transaction an exchange..

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kingofworld92
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July 12, 2018, 10:38:55 AM
 #13

If it is a transaction that he does not remember doing. It may very well be an exchange. If your friend is definitely not the person he / she performed the transaction with, tell your friend to transfer your money quickly to another wallet because the lock may have been stolen.
Kisska2710
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July 15, 2018, 02:52:05 AM
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It may very well be an exchange. If your friend is definitely not the person he / she has dealt with, tell your friend to quickly transfer his / her money to another wallet because his / her key can was stolen. My first guess was that it was an old deal for a trade that he forgot. This is especially my thinking because the amount of "send" is much smaller than the "change" amount on the transaction mentioned. If it was a hacker, I would have expected them to just empty the entire wallet.
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