Over $13 million USD worth of Stellar Lumens (XLM) Transferred from an Unknown Address

As reported by an independent cryptocurrency watcher, Whale Alert (Twitter handle), over $13 million USD worth of Stellar (XLM) was sent to unknown addresses raising questions. The Stellar Development Foundation have not offered any statement of such a transaction which has left investors tense of the huge move. The report noted that the amount of Lumens was transferred to five accounts from unknown wallet addresses totaling to 150 million lumens transferred.

In the first transaction reported on 28th January at 11.49 am GMT, a total of 68,819,286 XLM ($ 6,037,710 USD) was sent from an unknown address to an unknown address. The second and third transactions also were sent to and fro unknown addresses totaling to 45,879,524 XLM ($ 4,025,140 USD) 22,939,761 XLM ($ 2,012,570 USD) respectively. These transactions were completed at the same time as the first.

The last two transactions were sent a few hours apart on January 28th 2019 where the first transaction showed a total of 7,000,000 XLM tokens ($599,772 USD) sent to Binance cryptocurrency exchange and the last large transaction sent to Bitfinex. The latter totaled 6,000,000 XLM tokens worth $502,495 USD.

The huge amounts of XLM sent from unknown addresses has raised suspicion across XLM investors as it is not a normal occurrence in such a short period of time.

Stellar’s nemesis, Ripple (XRP) has also witnessed a large transaction payment in the past few days as Ripple Inc. sent out payments to two wallets: Bitstamp exchange and an unknown wallet. The latter is said to be an escrow payment from the company.

The two transactions totaled 850 million XRP with Bitstamp receiving $ 136,324,998 USD worth of XRP from the Ripple OTC Distribution. The amount sent to the unknown wallet was 392,834,643 XRP ($ 114,220,230 USD) from Ripple.

Stellar however remains in the top 10 coins, currently placed 9th on the log with a total market capitalization of $1,596,328,826 USD.

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