Almost $700 Millions Worth of Bitcoins Were Withdrawn From Coinbase

The amount of Bitcoins worth $694 millions was withdrawn from Coinbase crypto exchange. The operation took about an hour. The information was shared on Twitter by Lex Moskovski, Moskovski Capital’s IT director.

The exchange itself doesn’t give any comments on this grand withdrawal. Before this happened, the last great withdrawal was tracked on April, 18th from Binance. There were 20.9 thousands of Bitcoins withdrawn, which is equal to $1.2 billions. 

This happened 10 minutes after Bitcoin’s rate fell down. Now Bitcoin slowly recovers from the massive correction and at the moment of writing this article it costs $57.7 thousands. Therefore, it’s unlikely that this withdrawal has something to do with its current price.

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