China’s crackdown sparks massive onchain transfers, ওয় B billion in cold wallet bitcoins and K00K ether transfers – Bitcoin News

Following the latest statement from the Central Bank of China on cryptocurrency and offshore crypto exchanges, large sums of funds are going unchained. On September 26, approximately 1:00 am (UTC) 72,999 BTC or 3.1 billion bitcoin was circulated in an unknown wallet.

Hubby will gradually retire mainland China users, moving 800K ether from Hubby to an unknown wallet

The talk around the crypto campfire is that offshore exchanges near China have seen a lot of crypto transfers in the last few days. For example, author Wolfi Zhao revealed on September 25 that the Chinese government’s crackdown has “frightened some retail users” and that the move has spread to the over-the-counter (OTC) market.

Zhao’s report shows a screenshot quoting an OTC merchant for the USDT against the Chinese yuan in Hubei. Following Zhao’s report, Hubei told users in detail on Sunday that the crypto exchange would “gradually retire users on mainland China.”

China's Crackdown Spurs massively transfers onchain, ওয় 3 billion in cold wallet bitcoin and 800K ether

In the meantime, a lot of money has been transferred to OnChain and some crypto wallets have been identified as belonging to Whoobi. For example, on September 2, about 000 2.4 billion worth of 000 2,000,000 ether was moved here from Hubby. [an] Unknown wallet[s], ”Whale alert telegram channel details Sunday.

China's Crackdown Spurs massively transfers onchain, ওয় 3 billion in cold wallet bitcoin and 800K ether
Whale Alert Etherium (ETH) Transaction Sunday, September 26, 2021.

Massive ether transfer was sent in 100K ETH transaction. There are also several thousand ETH transfers from Hubby to unknown wallets.

Bitcoin spreads to $ 3.1 billion, a wallet identified as a potential hubby cold storage

OnChain’s operations from the Bitcoin (BTC) network were transferred to at least 72,999 BTC or 3. 3.1 billion in Bitcoin on September 26th. The movement of bitcoin originated from two large wallets and one of them is probably classified as Hubby’s cold storage wallet. Although the catch count of on-chain parsers showed 72,999 BTC, the third parser indicates that the total amount received by the wallet “1Njh” at the time of writing at least 1 is a total of 104,999 BTC.

China's Crackdown Spurs massively transfers onchain, ওয় 3 billion in cold wallet bitcoin and 800K ether
Record from

Records from indicate that at least one of the two BTC addresses, possibly Hubby, was twice flagged as a cold storage wallet. Moreover, the movement was discovered by and parser software developed by Telegram Research Group Gold Foundation in Sand.

“Today our second parser has noticed an interesting shift for an attractive 72,999 bitcoins,” a member of the on-chain research group Gold Found in Sand told “Don’t panic. This hubby exchange is moving its funds. But it is not yet clear what will happen next. Funds began to be withdrawn from the ‘1 NJH’ wallet in 2,000 BTC transactions and each had about 1,800 BTC recipients and the rest of the funds were distributed among various smaller wallets. The gold found in the Bali member added:

Perhaps this is a new mechanism for fundraising. So is (let’s) a deterrent response to their government’s next sneeze exchange? However, our parsers continue to monitor the situation. And with the transfer of funds all these movements are clearly visible from the bird’s eye view of the third parser.

China's Crackdown Spars has massively transferred onchain, ওয় 3 billion in cold wallet bitcoin and 800K ether
Blockchain statistics show an initial transfer of 72,999 bitcoins.

Curious method of transfer

The researcher noted that the team has an idea that it may somehow be linked to a recent announcement from the Chinese government.

China's Crackdown Spurs massively transfers onchain, ওয় 3 billion in cold wallet bitcoin and 800K ether
72,999 bitcoins have been moved again but in 2,000 BTC increments.

“Yes,” commented the sand researcher. “We know [Chinese] The government has made many similar announcements in the past. And such a movement only happened today. Which is weird. The researchers pointed out what was most bizarre about the movement and how the relocation was arranged.

“What seemed strange to us was that the money went out in a transaction of 2,000 BTC, but within that 2,000, there was an address of about 1,800+ bitcoins, and a dozen small. Could it be the withdrawal of existing Chinese clients? Well, that’s an idea, we still don’t know the truth, “said the researcher.

What do you think about the big Etherium transfer and the সর 3.1 billion bitcoin moved on Sunday? Let us know what you think about this in the comments section below.

Tags in this story

$ 3 Billion Bitcoin, 800000 Ether, Bitcoin Billion, Bitcoin Transactions, Bitcoin Transfer, BTCparser,, China Whale, Etherium Transactions, Etherium Transfer, Flagged Wallet, Gold Gold, Hobby, Hubby

Image credit: Shutterstock, Pixabay, Wiki Commons, Blockchair,, Whale Alert,

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