Bittrex news

Established in 2014, USA. No. of pairs - 289. Centralized exchange.

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Mysterious BTC Transactions Worth Billions Linked to Bittrex Address Uncovered

For the past 48 hours, rather suspicious activity has been happening on an address associated with Bittrex exchange’s main cold wallet storage whereby a range of large Bitcoin (BTC) transactions have been conducted in what analyst and The Block writer, Larry Cermak, termed as peeling. “The Art of Peeling” Peeling is a tactic in the Bitcoin field whereby by large holders of the cryptocurrency sends out a small transaction to one address and follows up with a large transaction to another account. The process is then repeated consecutively for about 100 times in order to mask the transactions from the large output account. Everyone is freaking out that billions of dollars in BTC is being moved but in reality, it's the same address constantly moving the same stash. The 55,337 BTC (~$410.6M) is now parked in this address: — Larry Cermak (@lawmaster) December 6, 2019 Peeling was, still is, a common tactic that allows (mostly bad) agents of BTC to mask transactions in order to increase privacy and security of the funds. To completely obscure BTC transactions, these agents use a mixer, which mixes the BTC together with other BTC tokens before releasing the coins. It's a technique that's used to obscure BTC and therefore increase privacy. It's often used for money laundering. The peeled outputs are then mixed (CoinJoin for example) with 'clean' outputs, consolidated and the whole process is repeated. — Larry Cermak (@lawmaster) December 6, 2019 This is what has been happening to the one address allegedly belonging to Bittrex exchange. Around 15 BTC ($111,000 USD) was first sent out before huge transactions of over 55,000 BTC ($410 million USD) followed through raising questions in the community. If the wallet belongs to Bittrex, why should the exchange be carrying out peeling and mixing on users funds? Or is this yet another on-chain volume metrics manipulation by one of the largest exchanges? All Eyes on Bittrex An address registered as the cold wallet storage for Bittrex exchange users has seen a record of outflows since reaching a 120k peak (approximately $1.6 billion) in June this year. Since the peak, the account sent out over 5K BTC through to the end of October, to stand at 115.8 K BTC as of October 28. Since closing out October, the account has sent out 49,180 BTC, with only about 66,000 BTC currently in the wallet as per Bitcoin info charts. The massive outflow in BTC is a normal occurrence across exchanges as they shuffle their wallets regularly, but with the latest transactions peeled and mixed, questions are raised as to why Bittrex would do this given the BTC they hold is supposedly clean. Is This Occurrence a Normal One? Despite the fuss, Udi Werthimer, a cryptocurrency analyst says the current occurrence on Bittrex is a normal one given exchanges do mix their coins. He said, “Could be any number of reasons really, we’re trying to arbitrarily attach meaning to something that might be entirely meaningless. This ordeal of people getting excited when seeing coins move is going to change within a couple of years or so, just need to bankrupt the plebs first.” Despite a number of exchanges using similar methods, the amounts attributed to the Bittrex account are huge and it may be a market manipulation tactic. Bittrex is yet to respond to the issue. The post Mysterious BTC Transactions Worth Billions Linked to Bittrex Address Uncovered appeared first on Coingape.

Crypto Exchange Bittrex Moves a Staggering $8.9 Billion in Bitcoin Ahead of Halving

For the first time in Bitcoin’s history, a staggering $8.9 billion in Bitcoin was moved on-chain in just an hour. This has been the highest hourly USD transaction volume the Bitcoin network ever recorded. On this move, investor and bitcoin bull Preston Pysh commented, “That kind of move is not characteristic for the price action […]
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Whale Alert: Bitcoin Worth $313 Million Was Sent from Bittrex Exchange to Unknown Wallet

Early Wednesday morning, 43,564 BTC – worth more than $313 million at current prices – was withdrawn from Bittrex to an unknown wallet. To put that in perspective, it’s almost as much as the daily trading volume of Bitfinex and Coinbase combined. $313 Million Sent only for $1: Try That With Fiat What is remarkable about this particular transaction – aside from the size – is that the fee to transfer that much Bitcoin was only $1. You can’t even buy a cup of decent coffee for $1 anymore, let alone transfer millions of dollars in fiat currency. Now compare that to trying to wire fiat currency. Depending on the amount being transferred, you could pay thousands in ‘hidden’ fees on top of a transfer fee that is 10 – 20x greater – or more – than that of Bitcoin. For example, if you were to try to send $313,000 – 0.1% of the Bitcoin transaction – from the US to the UK using Transferwise, you would pay over $1200 in fees. Possible Reasons Behind the Huge Transaction The question on many people’s minds isn’t so much who withdrew such a huge amount of Bitcoin, but rather, why did the transaction take place? Was Bittrex hacked? Is there any relation to the recent Bitcoin price manipulation where the price spiked 8% just to retrace 10% hours after? Did the whale decide not to dump his Bitcoins on the market? This, by the way, could be a bullish sign. The consensus is that something is not quite right about the transaction. The receiving Bitcoin address is brand new, with only two transactions in its wallet history. That in and of itself isn’t all that odd, but as at least one Twitter user noted, there was no test transaction. Isn’t it weird how there’s no test tx? @BittrexExchange would you like to confirm that funds are safe? — King (@KeengSchultz) December 4, 2019 You would think that with a transaction this size, that the user would send a small test transaction to verify that they entered the correct receiving address. Other crypto Twitter users have speculated that the transaction is just Bittrex transferring bitcoins from its hot wallet to its cold wallet. It's just an internal transfer. Bittrex moves #BTC from its exchange to its cold wallet. When their customers buy back #BTC, they will move coins back to exchange for liquidity — Nguyễn Duy Anh (@duyanh79) December 4, 2019 Recent data from BitUniverse shows that Bittrex has approximately 131,340 BTC in its reserves, meaning that if it was an internal transfer, then Bittrex just moved a third of its total BTC reserves into its cold wallet. Requests asking Bittrex to confirm the legitimacy of the transaction have thus far gone unanswered. Huge Bitcoin transactions are very rare, but even more rare are huge transactions to or from an exchange. In June 2019, a huge $101 million worth of Bitcoin was sent to Coinbase. In December 2018, a $257 was sent from an inactive address. Whale transactions are not limited to Bitcoin only: Last February, $100 million worth of Ethereum was delivered to Binance. The post Whale Alert: Bitcoin Worth $313 Million Was Sent from Bittrex Exchange to Unknown Wallet appeared first on CryptoPotato.

Bittrex denies losing $300 million of bitcoins

More than $300 million worth of bitcoins were withdrawn from Bittrex accounts. Users fear that the exchange fell victim of another tremendous hacker attack, but the exchange itself claims that deposits are safe.

A Whale Moves Over $310 Million USD in BTC From Bittrex For a Mere $1 USD Fee

A large transaction of over 43,000 BTC has been moved from Bittrex cryptocurrency exchange wallet to an unknown wallet according to, a bitcoin explorer. 43,654 BTC Moved From Bittrex A giant amount of over 43,654 BTC, currently worth slightly over $310 million USD, has been moved from one of the largest crypto exchanges, Bittrex, to an unknown wallet raising questions of a possible dump or HODLing situation. The transaction, as viewed on shows the transaction was recorded on block 606,587 with a miniscule fee of 0.00013920 BTC, roughly $1 USD paid. While the fee paid is tiny as compared to the fees in the traditional systems, the movement of the value without any government, bank or authority having control is the most noteworthy point here. Bitcoin is gaining more and more reputation as a safe, anonymous and cheap way to make large transactions across borders. The benefits of transacting in Bitcoin witnessed through this Bittrex transaction makes a strong use case for adopting cryptocurrency. With the transaction taking a mere 591 bytes to be recorded, and about 7 confirmations to be completed, the issue of scalability in large transactions is minimized. In November, a whale moved about 44K BTC in a transaction that charged them less than a dollar. In September, HardFork publication reported a case of a whale moving close to $1 billion in BTC value for a mere $700 USD in fees. The post A Whale Moves Over $310 Million USD in BTC From Bittrex For a Mere $1 USD Fee appeared first on Coingape.
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Bittrex news by Finrazor


Group-IB, a Moscow-based cybersecurity firm, has developed a ranking system to grade cryptocurrency exchanges by the level of safety they offer clients. It ranks Kraken as the safest exchange. Then there go Bittrex and Coinbase Pro. Binance, Bitfinex, Bithumb, Bitmex, Localbitcoins, Myetherwallet and Poloniex are on the list of safe exchanges as well. OKEx, Huobi Pro, and Coincheck are among the least safe exchanges


This week has been eventful in the crypto world. Ripple tries to rebrand its XRP coin, South Korea and China may lift their ICO ban, Bittrex is launching USD trading pairs and EOS’ long-awaited mainnet is soon to go live.

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Weiss Ratings Downgrades EOS for Centralization

The Weiss Crypto Ratings chart saw EOS slide down the ranks. Weiss downgraded the project, pointing centralization as the chief reason. Weiss Moved EOS Down Straight to C- Weiss Ratings downgraded EOS from B to C-, despite the favorable estimations in the past. The chief reason was the influence of big token holders, which could decide how to sway network resources. 1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon): — Weiss Crypto Ratings (@WeissCrypto) December 6, 2019 The EOS blockchain gains its speed from the feature of only having 21 block producers, which transpire transaction information amongst themselves. Thus, spreading the latest state of the distributed ledger is easier, in comparison to Bitcoin’s feat of broadcasting to above 9,300 anonymous nodes. The EOS Constitution also has special cases for blocking accounts – a feature which has been useful during hacks, but also means transactions can be censored centrally. The concentration of resources in only a few hands meant “whales” could decide on allocating activities. This is also one of the reasons why the EIDOS token spread like wildfire, consuming almost all transactions on the EOS network. Network Capable of Faking Activity, Hosts Parasitic Token EOS is a network similar to older ones like BitShares, as well as Steemit. Those networks have shown that the influence of “whales” can be immense, and two nodes could even broadcast millions of free transactions. Other networks like Lisk (LSK) showed that the election process for delegates ended up with voting power getting accrued in the hands of a few top delegates. All of them could vote each other into place, without resorting to regular user vote. EOS trades at $2.75, gradually declining from the mid-year peak above $6.00. The coin has erased most of the gains for 2019 and is on track to fall to lows not seen since the bear market of 2018. According to Blocktivity, the network carries more than 43 million transactions per day. As expected, things will get better from here. A bit fairer cpu pricing. Congestion will gradually die down as it's not dirt cheap to get cpu anymore. Everyone becomes a bit more vigilant. Fairer value for EIDOS and YAS and CPU. It will get better everyday.Now, when Voice? — Enumivo (@enumivo) December 1, 2019 Most of those now belong to minting EIDOS tokens, while other transactions are related to distributed app activity. EOS has also seen accusations that most of its dApps are visited by bots, faking the real usage statistics. What do you think about EOS’s latest crypto ratings (as per Weiss)? Share with us in the comments below.  Images via Shutterstock, Twitter: @WeissCrypto, @enumivo The post Weiss Ratings Downgrades EOS for Centralization appeared first on
Bitcoinist Set to Launch its Social Media Network ‘Voice’ on February 14, 2020

Voice, a social media platform built on the EOS blockchain, is set for release on February 14, 2020., the firm behind its design, is optimistic that Voice will compete favorably against the likes of Facebook and Twitter. This innovation will mainly use tokenization to promote activity within the network and leverage its authentication features […]
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SpaceChain’s New Milestone: First-Ever Demo of Blockchain Tech on the International Space Station

On Monday, December 5, 2019, community-based space and blockchain-focused platform, SpaceChain sent its blockchain hardware wallet technology to the International Space Station (ISS). As per the press release, this endeavor is the first ever ISS demonstration to date and was achieved as part of the CRS-19 commercial resupply service mission. This is definitely a milestone […]
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Bitcoin Fund Gets SEC Approval | Cardano Ready For A Push | EOS | Enjin | Digibyte |

Do you need Bitcoin BTC as Bitcoin Briefly Breaks Above $7,500 After SEC Approves BTC Fund. Launches Syndicate Platform with EOS Coin Discount on it's newly launched exchange with CRO pairs. Cardano Getting Ready for Big Push in 2020, Says Charles Hoskinson. Jared Tate talks about Digibyte DGB and the Poloniex issue. Delta Exchange Launches Derivatives for Enjin ENJ after Microsoft Partnership. Ross Ulbricht Clemency Petition Gathers 250,000 Signatures. References - Buzz -------- Free Newsletter: MCO USD 50 REWARD Sign up for eToro --------- Visit our website: Connect with us on Social Media: Twitter: Facebook: Telegram: ---------- NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Only one cryptocurrency is outperforming bitcoin this year — and its exchange has pioneered the practice of destroying coins every quarter

Binance Coin, or BNB, is the only major cryptocurrency outperforming bitcoin this year, but its namesake exchange is facing new concerns around increased competition, police raid rumors, and its "burning" practice. The Binance exchange faced new scrutiny after it said in November it has no "fixed offices in Shanghai or China" following reports of a police raid in the country, Bloomberg first reported. The exchange also destroys, or "burns," a portion of BNB coins in circulation each quarter as part of a plan to slash supply in half. Though Binance buys the coins off investors before destroying them, the practice likely serves as a factor in BNB's surge in 2019 and demand may wane once the burns reach their goal. BNB's popularity as the leading exchange token now faces opposition from new firms looking to corner the initial-exchange-offering market. Watch BNB trade live here. Binance Coin is the only major cryptocurrency outperforming bitcoin this year, but its namesake exchange faces heightened scrutiny for its "burning" practice and police raid rumors. The coin, typically referred to as BNB, allows holders to gain access to trading discounts and other benefits on Binance, the world's largest spot cryptocurrency exchange. BNB is up roughly 156% year-to-date, dwarfing bitcoin's 100% surge. The digital coin's outperformance was first reported by Bloomberg. The coin's run-up is likely boosted by the exchange's quarterly practice of destroying, or "burning," BNB to reduce the number of tokens outstanding. Binance plans to burn half of the total BNB supply — about 100 million coins — before pausing the practice. Though it buys the coins from holders before destroying them, the practice drives BNB demand as users still look to use its benefits. Binance destroyed $36.7 million worth of BNB at the end of the third quarter, or roughly 2 million coins. The exchange determines the amount of BNB to destroy based on its quarterly trading volume, and the latest burn hints the firm posted its most profitable quarter ever in the July-to-September period, Bloomberg reported. The platform also enjoys looser regulatory scrutiny due to its registration in Malta, yet critics are calling for Binance to clarify rumors around a reported raid on offices in China. A spokesperson for the firm told Bloomberg it has no "fixed offices in Shanghai or China," yet the rumored police search raised worries around whether the exchange is misleading investors to avoid China's crypto regulations.  BNB's surge cooled alongside other cryptos through the second half of the year, and a decline in initial exchange offerings on the platform could further hamper its performance. Binance customers used BNB to purchase coins sold by startups on the exchange, but as competitors with similar discount tokens crop up, Binance's popularity has faced new threats. "BNB's large relative outperformance came in the first part of this year, as the IEO craze reached its peak," Travis Kling, who leads hedge fund Ikigai Asset Management, told Bloomberg. "IEOs have cooled off a lot of its relative outperformance." BNB traded at $15.61 per coin at 3:10 p.m. ET. bitcoin traded at $7,456.46 per coin. Now read more markets coverage from Markets Insider and Business Insider: Billionaire hedge fund manager Bill Ackman is poised to exceed 50% returns after a 3-year drought Apple soars to all-time high after top analyst suggests 'completely wireless' iPhone could arrive by 2021 An unsealed court filing gives the first peek at Amazon's legal attack on the Pentagon's $10 billion cloud contract, and Trump is called out by name Join the conversation about this story » NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption
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