Recently, wallets associated with the bankrupt North American cryptocurrency broker Voyager have seen unusual activity. Surprisingly, 25 billion Shiba Inu (SHIB) tokens were transferred from the wallet, currently valued at approximately $183,275.
However, what piqued interest was the destination of these tokens, as they were not sent to any exchange address or broker’s funding wallet. Instead, they were transferred to addresses linked to the SHIB tokens themselves.
Despite the insolvency of the Voyager wallet, it still holds a large amount of 2.84 trillion Shiba Inu tokens, equivalent to a staggering $20.8 million. It is worth noting that just a few months ago, the wallet held as much as 6.6 trillion SHIB, indicating a significant fluctuation in the assets controlled by the broker.
These movements of the bankrupt broker’s wallets were not limited to SHIB. Reports indicate that other cryptocurrencies were also subject to transfers, all due to the continued resumption of withdrawals. In order to meet its obligations, the broker allowed lenders to withdraw about 35% of its cryptocurrencies, a window that was open between June 20 and July 5. The Gemini cryptocurrency exchange was one of the platforms that facilitated these withdrawals.
The future of Voyager’s holdings and the impact on the wider cryptocurrency space remains uncertain, and this unfolding story requires our continued attention.