Sell BTC and go long on ETH. The ancient giant whale's initial funding source is from BitForex, which has been criticized multiple times by ZachXBT

ChainCatcher news, according to @mlmabc monitoring, today an ancient whale has significantly sold off BTC and gone long on ETH, with initial funding sourced from BitForex, a trading platform that has been criticized multiple times by on-chain detective ZachXBT.

This ancient whale has sold 2,970 bitcoins (approximately $334 million) in the past 24 hours and purchased 50,470 ether in spot (approximately $215 million), while also going long on 135,263 ether on Hyperliquid (approximately $575 million).

ChainCatcher news, according to previous reports, on February 26, 2024, BitForex's hot wallet recorded an outflow of approximately $56 million on February 23. Shortly after this outflow, user withdrawal requests encountered processing delays, and the trading platform has yet to issue any official announcements.

On July 20, 2024, BitForex stated that it would reopen withdrawal services after a five-month suspension due to an investigation, but trading and deposits would remain suspended, and withdrawals would require KYC verification.