Whale Alert – Company Reports Several Massive Transfers Of USDT Worth From $10 To $20 Million From An Identified Yet Unknown Wallet Address
According to the tracking analytics company and transaction tracker – Whale Alert – there have been some pretty suspicious activity taking place within the Tether universe. According to the company, there have been a series of massive transactions which have been completed between the ‘treasury' of the USDT stablecoin, Bitfinex, and an as yet identified but unknown wallet as of a few days ago.
A number of days ago [May 24th] an amount equalling approximately $10 million USD worth of USDT [$15,000,000] was transferred to Tether from Bitfinex, while Tether had moved approximately 20 million, which is highly unusual on its own merits.
This news is not even taking into consideration the fact that, since this one major transaction, Whale Alert has since reported several other major transactions, possibly on account of the recent surge in prices due, in part, to the recent elections in the European Union. nearly 7 hours ago, on the 27th of May, transactions of approximately 10 million USDT ($9,990,000) were discovered taking place between the following wallets –
5754284f345afc66a98fbb0a0afe71e0f007b949 – Which was recently reported as being the digital wallet of the Tether digital treasury, moving the amount of USDT to –
What made this massive transaction all the more suspicious is that, according to the digital wallets records, it was, and continues to, make repeated scheduled transactions of 2,000 USDT to another associated wallet. This gives the immediate impression that money is being moved off Tether in small amounts so as not to draw suspicion.
Once again, it would be less conspicuous if it was the only one.
The week before this transaction took place, a further 10 million in USDT was moved off the treasury and into the very same unknown wallet. There has already been a large amount of this Tether that has since moved on to other wallets, as the more recent wallet balance of this account is – $6,490,000 USDT.
More recently, there have been yet more transactions taking place between the treasury and this, as yet unknown account. The latest of which, picked up by Whale Alert was a transaction of over 5 million USDT, which took place mere hours ago.
Is this a deeper conspiracy? Back in 2017, the company behind Tether was accused of artificially pumping the cryptocurrency market. This is given even more credence with the report that the stablecoin managed to reach a total market cap of $100 million in less than three months.
Are we seeing laundering in action? An artificially manufactured pump in Tether? Let us know in the comments!