A recent whale warning incorrectly linked F2pool’s cold wallet to bitcoin (BTC) exchange Mt Gox, which transferred 6,800 BTC to an unknown wallet just days after former CEO Mark Karpeles announced plans to reallocate $6 billion in BTC to his creditors.
Mt.Gox is a Tokyo-based bitcoin exchange that shut down in February 2014 after a 850,000 BTC hack. In a recent interview, Karpeles revealed that there were about 200,000 BTC on the exchange at the time of the company’s shutdown, of which the custodian had previously sold nearly 50,000 BTC for $600 million.
According to Karpeles, the value of the remaining 150,000 BTC currently owned by Mt.Gox over the years is over $6 billion. Following this revelation, the former CEO confirmed plans to reallocate funds and settle accounts with creditors.
Five days after the interview with Karpeles, Crypto Twitters @whale-alert reported that 6,800 BTC, worth about $319 million, had been transferred to an unknown wallet from the cold wallet of the now defunct mountain of the Gox stock exchange. Contrary to the whale’s warning, F2pool founder Chun Wang reportedly confirmed that the wallet address contains a false flag and that the address was associated with the first F2pool miners.
The screenshot below shows a transfer of 6800 BTC between the F2pool Mtgox wallet and an unknown wallet, as shown by WhaleAlert.
Although the Mt.Gox team has been inactive for over 8 years, it was previously involved in a rehabilitation plan to compensate creditors. As thisisbullish points out, the alleged wallet address associated with Mount Gox did not register any outflows.
Disclaimer: An earlier version of this story stated that 6800 BTC was transferred from a cold wallet associated with the Mt.gox bitcoin exchange. However, F2pool founder Chun Wang later denied the allegations, stating that the wallet in question belonged to F2pool miners and was mislabeled on Mtgox.
RELATED: Rare Bears Phishing Attack Hits $800,000 in NFTs
While crypto companies continue to use various security measures to prevent attacks, unscrupulous players keep up with the changes to attract careless investors.
On March 18, the newly launched Non-Fungible Token (NFT) project Rare Bears confirmed a successful phishing attack that lost almost $800,000 in NFTs.
As Cointelegraph reported, the hacker was able to hack into the broker’s Discord account and distribute phishing links that ended up emptying the user’s wallets. The Bare Bears team was eventually able to remove the hacked account and secure the server from further attacks.