[Bitcoin whale "Mr.100" has been searched for human flesh]
A Bitcoin whale named Mr.100 set his own record on March 15, buying at least 1,000 Bitcoins, accounting for 52% of the total purchases of the top 10 spot Bitcoin exchange-traded funds (ETFs). .
Since the collapse of the FTX exchange in November 2022, Mr.100 has embarked on a journey of actively accumulating Bitcoin, accumulating at least 100 Bitcoins every day starting in February 2023.
Mr.100’s funding sources and operating mode have triggered widespread speculation. From Hong Kong financial institutions to Middle East sovereign funds, to technology giants’ encryption projects, they have all been speculated to be the force behind it. However, an investigation by Arkham Intelligence revealed that the whale’s wallet was actually a cold wallet for the exchange Upbit, a discovery made based on its trading patterns with other Upbit addresses.
Arkham Intelligence analysis pointed out: "The so-called 'Mr.100' is actually Upbit's cold wallet, and its transaction behavior with other Upbit wallets strongly indicates this. This address mainly receives the inflow of 100 Bitcoins from Upbit's deposit wallet. Part of the outflow funds are also used to support customer withdrawal operations of Upbit hot wallet."
This discovery not only solves the mystery surrounding the identity of Mr. 100, but also highlights the central role of cold wallets in the safe management of digital assets, showing that it is not a strategic move by a single entity, but an established cryptocurrency exchange. mode of operation.
