A staff member from a Chinese Bitcoin forum was very surprised when he discovered of a wallet address that has received over 90 000 Bitcoin (BTC) since the end of March.
Bitcoin wallet of one individual in China has seen a total of 93 947 BTC transferred to it since March 25, 2018. Currently this wallet possesses 85 947 of the total amount in Bitcoin that it originally had, after selling exactly 8 000 BTC off.
A member of staff from a Chinese Bitcoin forum shows that an organization called BABI Finance was looking into the wallet’s transactions.
«BABI financial statistics found that the account tends to buy Bitcoin when it falls. This account has now become the sixth-largest wallet in the Bitcoin network. The top five wallets are all owned by exchanges», – he wrote.
The statistics shows that this wallet got most of its Bitcoin through wholesale transfers from single accounts. Its second-largest source of BTC came from a Chinese cryptocurrency exchange Huobi.
Following that amount, there are small transfers from smaller wallets, totaling 7 800 BTC. The smallest source of Bitcoin for this wallet is another Chinese exchange HaoBTC.com.
Who is the controller behind this mysterious account?
There was a speculation that this could be an exchange setting up a cold wallet, but the theory may be wrong due to the fact that BTC came from two different exchanges. The controller of this account may also be a long-term investment institution.