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Author Topic: mysterious bitcoin user with 66k BTC  (Read 181 times)
charlie137
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May 28, 2019, 01:35:18 AM
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Regarding recent 66k BTC tx - https://www.securityweek.com/authorities-take-down-cryptocurrency-mixing-service-bestmixerio coincidence?
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PrimeNumber7
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May 28, 2019, 02:23:57 AM
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I think they are probably unrelated.

I looked at a couple of the transactions to 1EBHA1ckUWzNKN7BMfDwGTx6GKEbADUozX the address that spent the 66k btc, and I found some connections to various darknetmarket sites. This person could have been selling drugs on various sites and accumulated that much profit over  about a year. He also could have been buying on exchanges that happened to receive transactions from people who withdrew from DNMs.

The operator of the service he sent the transaction to has been around since at least 2012, I believe. I don't think there are many businesses that meet that description.

The transaction was from about six months ago, and BestMixer was closed about a week ago, and was under investigation for about six months at the time.
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May 28, 2019, 03:58:57 AM
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I think they are probably unrelated.

I looked at a couple of the transactions to 1EBHA1ckUWzNKN7BMfDwGTx6GKEbADUozX the address that spent the 66k btc, and I found some connections to various darknetmarket sites. This person could have been selling drugs on various sites and accumulated that much profit over  about a year. He also could have been buying on exchanges that happened to receive transactions from people who withdrew from DNMs.

The operator of the service he sent the transaction to has been around since at least 2012, I believe. I don't think there are many businesses that meet that description.

The transaction was from about six months ago, and BestMixer was closed about a week ago, and was under investigation for about six months at the time.

thats what i thought as well - but nothing stops you from reusing hardware wallet when you start a new "project") and if you got away with the last "project" wouldn't you just keep the same backend to keep the water calm?
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May 28, 2019, 04:57:36 AM
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After doing some additional research, and reviewing a list of bitcoin/crypto companies, I believe the transaction in question was actually Coinbase upgrading their cold storage system, and moving their coins from one cold storage address to another.

To support the above, I found this blog post from about two weeks after the transaction that says they moved $5 billion worth of crypto, with a value date of December 7, 2018, four days after the transaction in question.
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May 28, 2019, 06:00:18 AM
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After doing some additional research, and reviewing a list of bitcoin/crypto companies, I believe the transaction in question was actually Coinbase upgrading their cold storage system, and moving their coins from one cold storage address to another.

To support the above, I found this blog post from about two weeks after the transaction that says they moved $5 billion worth of crypto, with a value date of December 7, 2018, four days after the transaction in question.

wow thats a good piece, thank you! it does looks more like one of coinbase txes
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May 29, 2019, 12:30:27 PM
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It is highly unlikely that this is a single user.I believe it's some big crypto company.
66K BTC is about 568 million USD.Services like bestmixer can't have such big amount of btc.
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May 29, 2019, 02:18:25 PM
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It is highly unlikely that this is a single user.I believe it's some big crypto company.
66K BTC is about 568 million USD.Services like bestmixer can't have such big amount of btc.
Hey quick question, did you consider reading this thread before posting?

If you did, you would notice the transaction was sent last year, and that the transaction was most likely Coinbase moving/upgrading it’s cold storage.
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