270,000,000,000 Shiba Inu (SHIB) Abruptly Sent to Coinbase by Embattled Crypto Lender: On-Chain Data
Bankruptcy lender Voyager Digital moved 270 billion Shiba Inu (SHIB) tokens to the top of US crypto exchange Coinbase in a 12-hour period this week, according to blockchain security firm Peckshield.
These 270 billion SHIB tokens were worth around $3 million at the time of the transfer.
Voyager too moved Ethereum (ETH) worth $19 million and $4 million of its original Voyager (VGX) token to Coinbase in the same 12-hour period.
“PeckShieldAlert Voyager-tagged addresses have transferred crypto to Coinbase worth ~$27.7 million, including 17,000 ETH (~$19 million), 12 million VGX (~$4 million), 270 billion SHIB (~$3 million) in during the last 12 hours.”
Last July, Voyager was forced to shut down customer withdrawals and deposits after embattled crypto firm Three Arrows Capital failed to repay a loan worth hundreds of millions of dollars.
Voyager eventually filed for bankruptcy and reached an agreement to sell $1.3 billion worth of assets and transfer its customers to Binance.US, although the US Securities and Exchange Commission (SEC) opposed the deal, arguing that the deal could potentially violate the Securities Act.
New York Judge Michael Wiles sided with Voyager and approved the deal, although the US Department of Justice (DOJ) is appealing his decision.
As of late February, Voyager had $631 million worth of crypto in its reserves, including SHIB worth $81 million, according to blockchain tracking firm Lookonchain.
SHIB is trading at $0.00001 at the time of writing. The 14th ranked crypto asset by market capitalization is down 7.8% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
