The post Suspicion surrounds mysterious $8.6 billion Bitcoin move appeared on BitcoinEthereumNews.com.

Conor Grogan, Head of Product at Coinbase, believes that there is a “small possibility” that the transfer of $8.6 billion worth of Bitcoin (BTC) on July 4 was a hack. Calling his claim “extreme speculation” in an X post on Friday, Grogan said he found the transaction movements to be “extremely odd.” He added: “If true (again, I’m speculating on straws here), this would be by far the largest heist in human history.” The transfer of 80,000 BTC On Friday, eight BTC wallets that had been dormant for 14 years transferred a total of 80,000 BTC, worth around $8.6 billion, according to blockchain analytics platform Arkham Intelligence. The massive scale of the transactions exceeded the gross domestic product (GDP) of Montenegro, a small country nestled in Southeast Europe that ranks 147th in terms of GDP. The BTC had been moved to the original wallets on 2nd April or 4th May, 2011, Arkham Intelligence noted/ It added that the transactions had been conducted by a “single entity.” The transactions began with the transfer of 40,000 BTC from a dormant wallet, followed by four transactions of 10,000 BTC each across a total of 10 hours. The Bitcoins have not been sold or further transferred since the five transactions — the BTC is currently held in eight new wallets. Sani, a Bitcoin maximalist and founder of Timechain Index, believes that the transferred 80,000 BTC belong to Roger Ver, also known as ‘Bitcoin Jesus.’ Ver, an early Bitcoin investor, was arrested in Spain last year on U.S. charges of tax fraud. He allegedly owes the Internal Revenue Service (IRS) at least $48 million in taxes, according to the Department of Justice (DOJ). Responding to an X user, Sani noted that the transfers could be an indication that Ver has reached a deal with the…

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Filed under: News - @ July 5, 2025 11:25 pm