Tether [USDT] treasury transfers USDT worth over $10 million to an unknown wallet address; pattern established

The cryptocurrency market saw a sudden surge in the prices of most cryptocurrencies, including Tron. However, this current surge in prices was followed by the large-scale movement of various coins. Tether [USDT] has been noted to move from Tether to different unknown wallets, over the past few days.

Whale Alert, a large cryptocurrency transactions tracker, reported the movement of 9,990,000 USDT, which is worth $10,116,538 USD from Tether to an unknown wallet. The transaction took place on May 27 at 06:24:35 UTC. The wallet address of Tether Treasury was 5754284f345afc66a98fbb0a0afe71e0f007b949, and the wallet address of the recipient was 568cc6eca34d56f5695b16ff0250dfa77f247c47.

The hash rate of the above transaction was noted to be b5433340ffa68e3a3c897f65d51ba00373b8575bebaf4f30e3123fc6d8c24cee.

Source: Whale Alert

Source: Whale Alert

The recipient’s wallet made recurring USDT transactions of 2,000 USDT to another wallet address noted to  be 31EbA95390B6310aA3c02D658F95Ac3A5fBEEdf2. It was noted that this wallet address, in most cases, sent the received USDT to a Wallet address recognized as 1. Most transactions on the said wallet have been conducted in stablecoins.

Two days back, AMBCrypto had reported an increase in Tether’s supply by over $100 million in 70 days. It had been accused of pumping the market in 2017, and the current movement of Tether is speculative. Over a week ago, 10 million USDT were transferred to the same address, 568cC6EcA34D56f5695B16Ff0250DFA77F247c47. The last available USDT balance of the address was 6,490,000 USDT.

The post Tether [USDT] treasury transfers USDT worth over $10 million to an unknown wallet address; pattern established appeared first on AMBCrypto.

Post written by our friend Namrata Shukla and Syndicated from ambcrypto
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Syndicated from ambcrypto

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