PANews reported on August 15 that according to monitoring by on-chain analyst Yu Jin, a new address was created after the WBTC custody rights change incident and hoarded 1,605 WBTC (approximately US$94.62 million) in three days.
On August 11, BitGo announced that it would create a joint venture with BiTGlobal to transfer WBTC to a jurisdiction for custody. Subsequently, some protocols and institutions said that they would no longer use WBTC due to potential risks. The next day (August 12), this address was created and began to withdraw a large amount of WBTC from Binance. So far, a total of 1,605 WBTC (equivalent to US$94.62 million) have been withdrawn from Binance in three days, with an average withdrawal price of US$58,920.
