80,000 Bitcoin worth over $8.6 billion have been moved into new wallets, sparking speculation of a possible crypto heist in the market.
Recent transactions involving dormant Bitcoin holdings from 2011 have raised concerns among traders and investors about a potential market sell-off.
A small Bitcoin Cash transaction prior to the massive Bitcoin movements has led some, including Coinbase's Conor Grogan, to speculate that this could be the largest crypto heist in history.
Despite speculations, some analysts believe the transactions could be legitimate handshake transactions rather than hacks, with Bitcoin currently trading at $108,150 following a slight decline.