New Wallet Receives 500 BTC Worth $61.96 Million from BitGo
On October 16, Onchain Lens reported that five newly created wallets received 104,336 ETH, valued at $416 million, from BitGo and Kraken, possibly linked to Bitmine.
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Fact Check
The statement is directly and independently corroborated by two separate cryptocurrency news sources (Blockchain.news and Binance Square), both of which report that BitGo sent 500 BTC, valued at $61.96 million, to a newly created wallet. Supporting evidence from BitGo's official blog and government regulatory sites confirms its role as a major, licensed custodian capable of handling such large transactions, which adds to the credibility of the claim.
Summary
On October 16, Onchain Lens reported that five newly created wallets received 104,336 ETH, valued at $416 million, from BitGo and Kraken. These wallets are likely connected to Bitmine, continuing the trend of large institutional crypto transfers. This follows a similar transaction involving ETH on October 10.
Terms & Concepts
- ETH: The abbreviation for Ether, the native cryptocurrency of the Ethereum blockchain, often used in decentralized applications and smart contracts.
- BitGo: A digital asset custodian and wallet service provider known for secure crypto storage and transactions.
- Onchain Lens: A blockchain monitoring platform that tracks and reports large cryptocurrency transactions in real time.