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Winteriscomming

Japan: Coincheck Exchange Freezes All Withdrawals As Up To $723 Mln Leaves Its Wallet

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Japanese cryptocurrency exchange Coincheck has suspended all withdrawals as a Ripple payment worth $123mln left its wallet Friday, Jan. 26.

 

https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

Edited by karlos
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25 minutes ago, Winteriscomming said:

Japanese cryptocurrency exchange Coincheck has suspended all withdrawals as a Ripple payment worth $123mln left its wallet Friday, Jan. 26.

 

https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet

So far for the "dream" of unregulated currency's with this new "MT-GOX" like robbery....  

Funny they used XRP to send the robbed money fast away to their own wallet on a nice sunny island...

Now regulation is only months away and this is a good thing, for all the people who were robbed, for Ripple and for XRP!

Edited by Vince
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What I am worried about is the receiver wallet. I will post the source where I saw this in awhile but the wallet had 3 billion XRP in there before the 100 million was added. That means somewhere in the dark web, a hacker/group of hacker, control about 10% of all xrp in circulation. There is nothing stopping them from dumping 3 billion XRP onto the market tomorrow (though that will just mean cheap XRP for everyone to pick). But if they just sit on it, it is like a giant time bomb and that will discourage FI and bank from adopting xrp

 

https://mobile.twitter.com/XRPL_Monitor/status/956729169295024128?ref_src=twsrc^tfw&ref_url=https%3A%2F%2Fwww.xrpchat.com%2Findex.php%3Fapp%3Dcore%26module%3Dsystem%26controller%3Dembed%26url%3Dhttps%3A%2F%2Ftwitter.com%2FXRPL_Monitor%2Fstatus%2F956729169295024128

 

Edited by Bergusan

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6 minutes ago, Bergusan said:

What I am worried about is the receiver wallet. I will post the source where I saw this in awhile but the wallet had 3 billion XRP in there before the 100 million was added. That means somewhere in the dark web, a hacker/group of hacker, control about 10% of all xrp in circulation. There is nothing stopping them from dumping 3 billion XRP onto the market tomorrow (though that will just mean cheap XRP for everyone to pick). But if they just sit on it, it is like a giant time bomb and that will discourage FI and bank from adopting xrp

 

https://mobile.twitter.com/XRPL_Monitor/status/956729169295024128?ref_src=twsrc^tfw&ref_url=https%3A%2F%2Fwww.xrpchat.com%2Findex.php%3Fapp%3Dcore%26module%3Dsystem%26controller%3Dembed%26url%3Dhttps%3A%2F%2Ftwitter.com%2FXRPL_Monitor%2Fstatus%2F956729169295024128

 

How do we know this isn't an institutional investor? 

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6 minutes ago, Bergusan said:

What I am worried about is the receiver wallet. I will post the source where I saw this in awhile but the wallet had 3 billion XRP in there before the 100 million was added. That means somewhere in the dark web, a hacker/group of hacker, control about 10% of all xrp in circulation. There is nothing stopping them from dumping 3 billion XRP onto the market tomorrow (though that will just mean cheap XRP for everyone to pick). But if they just sit on it, it is like a giant time bomb and that will discourage FI and bank from adopting xrp

 

https://mobile.twitter.com/XRPL_Monitor/status/956729169295024128?ref_src=twsrc^tfw&ref_url=https%3A%2F%2Fwww.xrpchat.com%2Findex.php%3Fapp%3Dcore%26module%3Dsystem%26controller%3Dembed%26url%3Dhttps%3A%2F%2Ftwitter.com%2FXRPL_Monitor%2Fstatus%2F956729169295024128

 

Since there are so much more XRP's in the market than there are BTC in that market, this will be less of a problem for XRP i think...  

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5 minutes ago, Bergusan said:

What I am worried about is the receiver wallet. I will post the source where I saw this in awhile but the wallet had 3 billion XRP in there before the 100 million was added. That means somewhere in the dark web, a hacker/group of hacker, control about 10% of all xrp in circulation. There is nothing stopping them from dumping 3 billion XRP onto the market tomorrow (though that will just mean cheap XRP for everyone to pick). But if they just sit on it, it is like a giant time bomb and that will discourage FI and bank from adopting xrp

 

https://mobile.twitter.com/XRPL_Monitor/status/956729169295024128?ref_src=twsrc^tfw&ref_url=https%3A%2F%2Fwww.xrpchat.com%2Findex.php%3Fapp%3Dcore%26module%3Dsystem%26controller%3Dembed%26url%3Dhttps%3A%2F%2Ftwitter.com%2FXRPL_Monitor%2Fstatus%2F956729169295024128

 

I don’t get why you’re assuming that the Ripple was robbed? If I thought an exchange was going down I’d move my Zerps in a second (not that I keep them on an exchange). Why wouldn’t this be someone buying Zerps at a low and now moving to their secure wallet? Probably SBI.

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To me it looks like nothing more than Coincheck having problems with covering NEM credits, with a big XRP investor withdrawing his XRP credits as a result.

But who would store more than XRP 100 mln on any exchange anyway...??? :shock:

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3 minutes ago, DucPeter said:

To me it looks like nothing more than Coincheck having problems with covering NEM credits, with a big XRP investor withdrawing his XRP credits as a result.

But who would store more than XRP 100 mln on any exchange anyway...??? :shock:

If that's the case it's just a liquidity problem of the exchange!  

Storing 100mln on a online exchange is well VERRY DUMB!

 

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I have just checked on XRP charts and the receiving address has been used for large movements in the  past .

24 days ago over a billion from the Coincheck address.

It shows as probably SBI on the "who owns what xrp" spreadsheet someone posted recently.

So as Mars suggests most likely SBI getting their money out before a freeze on funds due to a hack involving NEM.

 

 

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19 minutes ago, HenryHole said:

How do we know this isn't an institutional investor? 

It could be and I hope it is. (I think I thrown abit too much money into xrp but oh well, HODL I will)

There is a lot of talk that this wallet might belong to SBI virtual currency before they launch their exchange which was suppose to be end of this month. Though I will be surprised if SBI holding which is a joint venture with ripple will buy XRP from the open market rather than directly through ripple’s monthly escrow. 

But as I said, though I might not be clear in my post is the fact that there is a wallet with 3 billion xrp siting around like a time bomb. 

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2 minutes ago, Bergusan said:

It could be and I hope it is. (I think I thrown abit too much money into xrp but oh well, HODL I will)

There is a lot of talk that this wallet might belong to SBI virtual currency before they launch their exchange which was suppose to be end of this month. Though I will be surprised if SBI holding which is a joint venture with ripple will buy XRP from the open market rather than directly through ripple’s monthly escrow. 

But as I said, though I might not be clear in my post is the fact that there is a wallet with 3 billion xrp siting around like a time bomb. 

Completely agree... It is a worryingly large wallet...

Nevertheless I would like to assume that XRP as a centralised Crypto is being bought by those who see an actual future in utilisation of the currency...

Heres to dreaming eh? :scratch_one-s_head:

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