Recent activity in a wallet connected to the insolvent North American bitcoin broker Voyager has been noticed. Unexpectedly, the wallet was emptied of a stunning 25 billion Shiba Inu (SHIB) tokens, which are currently worth about $183,275.
The fact that these tokens were not transmitted to an exchange address or the broker’s fund wallet has sparked curiosity about their final destination. They were instead sent to a location connected to the SHIB token itself.
Despite being in bankruptcy, the Voyager wallet still has a sizeable holding of 2.84 trillion Shiba Inu tokens, which is equivalent to an astounding $20.8 million. It is noteworthy that the wallet’s holdings were as high as 6.6 trillion SHIB only a few months ago, showing significant changes in the assets under the broker’s control.
These transfers came from the insolvent broker’s pocket, and they weren’t only for SHIB. According to reports, transactions involving more cryptocurrencies have also taken place as a result of the continued resumption of withdrawals. The broker opened a window between June 20 and July 5 for lenders to remove around 35% of their cryptocurrency holdings in an effort to fulfil their commitments. The Gemini cryptocurrency exchange is one of the sites that makes these withdrawals possible.
Voyager’s holdings’ future and the repercussions for the larger crypto ecosystem are still up in the air, therefore we must pay close attention to this developing tale.
