Almost 104 BTC Moved Out of QuadrigaCX, Reports Chainalysis

• Chainalysis has observed that over 104 BTC have moved out of the QuadrigaCX.
• The majority of BTC was sent to the popular wallet mixer, Wasabi.
• Chainalysis also observed similar surprising BTC movements this year.

With possible signs of the undead, Chainalysis, a crypto analysis company, has observed that over 104 bitcoins have moved out of the bankrupt crypto exchange QuadrigaCX Among the 104 BTC, the majority of the most popular cryptocurrency was sent to the popular wallet mixer, Wasabi.

Reporting on the Twitter platform, Chainalysis shared a Reactor graph, indicating that almost 69 BTC were sent to Wasabi. Meanwhile, almost  24 and 10 BTC were sent to two other unidentified wallets.

Chainalysis also observed similar surprising BTC movements across the platforms. In November, Chainalysis reported that BTC-e, a crypto exchange platform, had transferred $165 million worth of Bitcoin, even though the company was shut down by US authorities in 2017.

Breaking down the BTC movements post-shutdown, Chainalaysis claimed that BTC-e had continuously moved the first cryptocurrency to convert them into cash or salvage them for future use. In 2021, BTC-e transferred over 100 bitcoin, valued at almost $6 million, which was the second largest BTC transfer from the crypto exchange post-shutdown.

In late January,  QuadrigaCX’s Board of Directors sent out a statement to its customers. The statement claimed that an application for creditor protection in accordance with the Companies’ Creditors Arrangement Act (CCAA) was filed today in the Nova Scotia Supreme Court to address the significant financial issues faced by the bankrupt crypto exchange. Yet, BTC movements were observed from QuadrigaCX.

Currently, Bitcoin is priced at $16,833 with a 0.14 increase in 1 hour and a 0.01% increase in 24 hours. But, BTC observed a 5.02% fall in the past seven days, at the time of writing.