The Bitcoin whale has now sent $5.47 million worth of Bitcoin to Kraken in the previous two months, including the most recent $630,000 payment.
A significant Bitcoin owner who started mining the asset just five days after the genesis block was produced in 2009 and hadn’t touched it until lately, has added an additional $630,000 to the cryptocurrency Kraken exchange.
In the last two months, the “ancient Bitcoin whale” has transferred $5.47 million worth of Bitcoin (BTC) to Kraken, according to a report on Oct. 14 X from blockchain intelligence company Arkham Intelligence.
It further stated that the whale wallet is still holding $75.23 million worth of Bitcoin in spite of the latest actions.
The 1,127 Bitcoin that were left in the wallet were transferred to a new wallet address after the transfer.
Although Bitcoin addresses from the early days of the blockchain don’t often move money, its owners could be hoping to sell their gains for
It comes after another early Bitcoin whale on October 3 transferred 10 Bitcoin to Kraken, which was valued at $610,000. According to Arkham, the whale had been inactive for at least ten years.
The company traced a second whale in September that started mining Bitcoin two months after the blockchain went up and woke up fifteen years later to transfer sixteen million dollars to Kraken.
The whale appears to be seeking to sell some of its holdings because Bitcoin has been rising over the past week, rising 7.45% to over $67,000.
Over the past year, there have been significant fluctuations in the value of Bitcoin, with prices as low as $28,000 and as high as $73,000 in March.
Positive momentum has also been observed in the market sentiment-tracking Crypto Fear & Greed Index, which has been hovering around the “Greed” region for the last two days. The most recent update, which was released on October 16, gave the index a score of 73 out of 100.
When Bitcoin was trading at about $66,000 on July 29, the index last registered a score higher than 73.
Canary Capital pursues Litecoin ETF following recent XRP filing
The US Securities and Exchange Commission (SEC) received a Litecoin exchange-traded fund (ETF) application from Nashville-based investment company Canary Capital. This follows earlier this month’s application for an XRP ETF by Canary and BitWise.
After the ETF registration was made public, Litecoin released a statement on its official website.
Canary’s new ETF attempt
Canary Capital, an investment business located in Nashville, submitted an application to the Securities and Exchange Commission (SEC) today for a Litecoin (LTC) ETF. This demonstrates a diversified strategy and comes less than a week after Canary filed an application for the XRP ETF. According to Canary’s filings, BitWise also utilized it for their XRP ETF. Canary filed with CSC Delaware Trust Company for both attempts.
Litecoin greeted this new development with a favorable remark on its website on this ETF filing. It specifically mentioned Steven McClurg, the founder of Canary Capital, who was formerly the “chief investment officer and co-founder” of Valkyrie Funds. A few years ago, Valkyrie was one of the original candidates for an ETF called Bitcoin Futures.
“Steven established Canary Capital to drive innovation and deliver actively managed private strategies to meet institutional demand for sophisticated cryptocurrency investment solutions. If approved, the ETF will provide both consumer and institutional investors with wide-spread direct exposure to Litecoin,” the statement read.
The crypto ETF market has witnessed a lot of activity thus far in October. Demand for Bitcoin ETFs is now soaring, and these three new applications happened really quickly after one another. Though most people believe Solana will be approved for the next ETF, proposals for LTC or XRP have not been discouraged by these forecasts.
The price of Litecoin has risen by almost 7% in the last day. Although there have been hints that LTC would rise this month if whales influence prices, this has not happened. On-chain data thus far points to a minor upsurge, but nothing significant has happened.
The cryptocurrency sector would benefit greatly from the approval of this ETF, but as Bloomberg analyst James Seyffart pointed out, a number of exchange-traded products (ETPs) now include LTC. He noted that Grayscale already has a Litecoin ETP in the US and indicated a product from Germany as well as Switzerland.
Cosmos Hub’s Liquid Staking Module under scrutiny following DPRK ties
The security of the Liquid Staking Module of Cosmos Hub has come under increased scrutiny when it was discovered that North Korean spies were reportedly involved in its creation.
About the integrity of its Liquidity Staking Module, a solution that enabled ATOM staked with validators to transform into liquid staked ATOM tokens, blockchain development company All in Bits has sent a strong warning to the Cosmos community.
URGENT ALERT: AiB has uncovered cause for serious security concerns with Cosmos Hub’s Liquid Staking Module (LSM).
Timeline:
* Aug 2021: LSM development begins, led by Iqlusion & Zaki Manian
* Jul 2022: Oak Security audit reveals critical vulnerabilities; North Korean devs…— All in Bits (@Allinbits_inc) October 15, 2024
On October 16, All in Bits raised concerns about potential vulnerabilities in the LSM by stating in an X post that contributions from engineers purportedly associated with North Korea were made early in the system’s development.
A chronology of events reveals important omissions made when developing the LSM. Severe vulnerabilities were found in July 2022 by Oak Security audit, including ways for stakeholders to avoid lowering fines. All in Bits stated that it was concerning that the same North Korean developers were assigned to handle these problems, claiming that this jeopardized the integrity of the restoration procedure.
One year later, the FBI alerted Zaki Manian, a key player in the creation of the LSM, on the DPRK’s role. Bits stated as much, adding that “Zaki pushes the LSM Signaling Proposal on chain and promotes LSM as ‘finished’ and without disclosure to the Cosmos Hub community,’ despite notification from the FBI.”
“This breach undermines Cosmos Hub’s security and integrity. AtomOne remains committed to these principles.”
All in Bits
The blockchain development company’s analysts demanded that the Cosmos governance community take prompt action, calling for a thorough audit of the LSM and the implementation of more stringent security measures for any new code additions.
The FBI has been warning more and more about North Korean hackers who are actively targeting workers in the cryptocurrency and decentralized finance industries, which is the context for the increased investigation of the LSM. As to the agency, fraudsters employ advanced social engineering techniques aimed at tricking even the most technically adept persons, underscoring the crucial requirement for strong security protocols in the blockchain domain.
