Key Market Movements
Three notable developments occurred in the cryptocurrency market today, impacting various digital assets and investor sentiment.
TRUMP Memecoin Deposit to Binance
A high-value fraud case involving both a politically linked memecoin transfer and a large Bitcoin sale from years ago has caused a stir in the markets. A wallet associated with the TRUMP memecoin, known to be supported by US President Donald Trump, reportedly deposited 381,000 TRUMP tokens, worth approximately $2 million, into the Binance exchange about 3 hours ago.
Early Bitcoin Whale Sells Significant Holdings
On the other hand, an early whale who has held a large amount of BTC since Bitcoin’s early years sold 500 BTC today for approximately $47.77 million. It was noted that this investor acquired a total of 5,000 BTC 12 years ago, when the Bitcoin price was around $332, for only $1.66 million.
The whale, which has been selling gradually since December 2024, has so far liquidated a total of 2,500 BTC (approximately $265 million) at an average price of $106,164. It is estimated that the whale, which still holds 2,500 BTC (approximately $237.5 million), has made a total profit exceeding $500 million.
Massive Loss Due to Social Engineering Attack
Additionally, according to blockchain researcher ZachXBT, one user lost over $282 million worth of BTC and LTC as a result of a social engineering attack carried out via a hardware wallet. The attacker reportedly converted some of the compromised assets to Monero (XMR), causing a sudden surge in the XMR price. Furthermore, the attacker allegedly converted 818 BTC (approximately $78 million) into 19,631 ETH, 3.15 million XRP, and 77,285 LTC via THORChain.