An ancient Bitcoin whale has been reported drained for 3,520 BTC or $330M to a fresh address, bc1qc. The stolen funds were quickly laundered via several exchanges, including Kucoin. The proceeds were swapped for privacy-focused cryptocurrency, Monero (XMR), with the size of the transactions resulting in a 50% spike in the price of Monero.
The Bitcoin whale had originally consolidated their stash of Bitcoin on 1Hc4E in 2017, where it lay dormant for the past eight years. The origins of this stash came from several addresses as old as 2014 with transfers from Coinbase, among others. This address reawakened last month, with its entire balance transferred to bc1qx before it was compromised.
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