XRPL Monitor reported that the large South Korean stock exchange Bithumb has moved a huge amount of crypto. It’s about almost 700 million XRP – in an anonymous wallet.
According to the Bithomp website, which offers analysis of XRP transactions, this anonymous address was created by the exchange itself. So it could have been just an internal redistribution of funds.
XRP 699,999,981 million is a total of $ 141,383,381. The fee that Bithumb paid for the transfer of this huge amount is only 0.00001 XRP, which no bank could offer.
Recently, on June 1, Ripple released its regular one billion XRP from its escrow account. 800 million of them, however, were sent back the same day.
The blockchain startup from San Francisco conducts this operation regularly on the first day of each month.