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Mysterious 640,000,000 XRP Transfer Explodes XRP Army, Here’s What Really Happened
A mammoth amount of XRP has been moved in a matter of hours, sending shockwaves through the crypto community. This massive transfer raised eyebrows as many users began speculating about the nature of these transactions.
According to Whale Alert, which tracks large cryptocurrency transfers, three separate transactions have taken place, totaling nearly $1.5 billion in fiat currency. The first two transactions involved transferring 160 million XRP each, followed by a final transaction of 320 million XRP.
The data shared by Whale Alert reveals that the source of these enormous crypto moves is Ripple’s top partner in Japan, SBI Group, through its crypto exchange SBI VC Trade. The funds were transferred from an anonymous wallet ending in -QjNRCZ to another unknown wallet.
However, XRPscan data also shed light on the matter. According to this data, the 320 million XRP that was sent from SBI VC Trade is now forwarded as a transaction within Bitgo Init Wallet.
Source: u.today
