Sell-off BTC to go long on ETH Ancient Whale's initial funding source was BitForex, a CEX that was repeatedly criticized by ZachXBT

BlockBeats News, August 22, according to @mlmabc monitoring, today a whale from ancient times sold a large amount of BTC and went long on ETH. The whale's initial funds came from BitForex, a trading platform that has been repeatedly criticized by on-chain detective ZachXBT.

This ancient whale has sold 2,970 BTC (about $334 million) in the past 24 hours and purchased 50,470 ETH spot (about $215 million), while also longing 135,263 ETH on Hyperliquid (about $575 million).

BlockBeats previously reported that on February 26, 2024, BitForex's hot wallet recorded a fund outflow of about $56 million on February 23. Shortly after this fund outflow occurred, user withdrawal requests encountered processing delays, and the trading platform has not yet issued any official announcement.

On July 20, 2024, BitForex stated that after a five-month shutdown due to an investigation, withdrawal services would be reopened; however, trading and deposits would remain suspended, and withdrawals would require completion of KYC verification.