The real identity of the mysterious Bitcoin whale Mr.100 is decrypted! Arkham confirmed to be exchange Upbit cold wallet

The website 120btC.coM reported that the "Mr.100" wallet caused a stir in the cryptocurrency community due to its multiple purchases of 100 Bitcoins (a total of more than 50,000 BTC). There is widespread concern and discussion about whether new large Bitcoin holders have emerged. Now, cryptocurrency intelligence platform Arkham has confirmed his true identity.

Mr.100=Upbit Cold Wallet

Arkham platform marked Mr.100 as the cold wallet of South Korea’s largest exchange Upbit, not the new whale that the community was expecting. Regarding the regular behavior of this address purchasing 100 BTC each time, crypto analyst @defioasis clarified that this operation may be a specific way Upbit sorts out cold wallet and hot wallet assets.

In fact, on-chain analyst Mai had previously predicted that the address might be related to Upbit. At that time, he believed that Mr.100 was an Upbit market maker for the following reasons:

• This address is very active during Asian hours. About 75% of its active time is during Asian hours, and the rest is during American hours.

• Hoard Bitcoin through many exchanges, but 90% come from Upbit and Bithumb, and occasionally buy on Binance and OKX. Therefore, this is likely to be Upbit's hoarding address.

• Mr.100's transactions are all automatic transactions, using a small wallet address to buy Bitcoin, which is similar to using a similar small wallet address to buy altcoins on Ethereum. In addition, this address also has records of interaction with the founders of Upbit exchange and Bithumb.

Upbit cold wallet becomes the 15th largest holder of Bitcoin

According to Arkham platform data, Upbit cold wallet currently holds 50,564 Bitcoins. According to the current 73,539 In terms of US dollar prices, its position is worth up to US$3.72 billion. In addition, according to BitInfo Charts data, the unrealized profit of this address has exceeded US$2.2 billion.

This address has become the 15th largest Bitcoin whale, and its holdings account for 0.26% of the total supply of Bitcoin, surpassing the cold wallets of Gemini and Bybit.

The records on the chain show that the address transferred a total of 7,723 BTC in February, and the activity records in March are as follows:

• Yesterday (12th), a total of about 400 Bitcoins were transferred in four transactions.

• On the 8th and 6th, 650 and 360 Bitcoins were transferred respectively. On the 1st day after Bitcoin was transferred to its hot wallet, a total of 208.87 BTC were transferred in two transactions.

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