Newly Created Wallet Withdraws 340 Bitcoin From Binance

According to Lookonchain, a newly created wallet withdrew 2,650 Bitcoin worth about $180 million from Binance on March 27, a substantially larger transfer than an earlier report indicated.

BTC

Summary

Lookonchain reported on March 27 that a newly created wallet withdrew 2,650 BTC worth about $180 million from Binance. This is significantly larger than an earlier report that cited a 340 BTC withdrawal worth about $23.14 million. The updated transfer indicates a much bigger movement of Bitcoin from the exchange to a newly created external wallet.

Terms & Concepts
  • Wallet: A blockchain tool used to store and manage cryptographic keys for sending and receiving digital assets.
  • Binance: A major cryptocurrency exchange where users trade, deposit, and withdraw digital assets.
  • Bitcoin: The native cryptocurrency of the Bitcoin network, used as a digital asset and store of value.