On July 15, we witnessed something quite impressive on Twitter: a hack into the most prominent accounts in the world of cryptocurrencies, and even the technological and political world. Bill Gates, Changpeng Zhao, Elon Musk, Barack Obama, among others saw their accounts compromised by a scam looking to steal BTC from users. But, in that case, what position have the Bitcoin whales taken after that hack?
Bitcoin whale activity after Twitter hack
For the past two days several things have happened simultaneously. For example, the Whale Alert account on Twitter went several hours without reporting movements yesterday, caused by the anti-hacking measures taken by the social network. Instead, they continued to report through Telegram.
Between the time of the hack and the time of writing this post, eight transactions have been observed by the Bitcoin Whales. Of these eight operations, five have been accumulation in unknown wallets, while two introduced liquidity in Binance and Bitstamp, and one of them was done between exchanges.
Bitcoin whales amassed 12,570 BTC, and brought 3,100 BTC to the mentioned exchanges. Finally, the movement between exchanges was for an amount of 2,000 BTC. Thus, the total mobilized was 17,760 BTC.
Between July 15 and today, BTC has lost approximately 1.13% of its value, as it went from US $ 9,247.99 to US $ 9,157.97. However, the latter represents a recovery of 0.17% compared to yesterday, when Bitcoin touched $ 9,000 once again.
It was in this context that all the aforementioned and described Bitcoin Whale activity occurred. Somehow, that accumulation could have driven the price up, but the truth is that many people continue to associate the hack with Twitter as directly related to BTC.
What were the real consequences?
In this case, BTC was just what they stole, the channel that failed in security was Twitter, and work is currently underway to track the amount of BTC stolen by hackers. The attack may have damaged Bitcoin’s public perception, but the fact that the market has barely reacted is a positive sign.
Bitcoin obtained through hacking amounted to about $ 120,000, a tiny fraction of BTC’s market capitalization: $ 168 billion. However, we will keep up to date and inform you of any news that may arise related to this topic.