Suspected Justin Sun team is exchanging BTC for WBTC
2024-08-20 01:15:21
According to chain analyst division embers monitoring wbtc hosting contingency announcementdesk3cryptocurrencydesktopCrypto News
According to on-chain analyst Ember, a total of 2,590 BTC ($156.41M) was transferred to Binance by Justin Sun addresses after the announcement of the change of custody rights of WBTC. Then a newly created address on the Ethereum chain started to withdraw WBTC from Binance, and a total of 1,953 WBTC ($117.78M) has been raised so far. In terms of timing and motivation, it is likely that the Justin Sun team is exchanging BTC for WBTC.
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