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Transfer of 80,000 BTC Linked to MyBitcoin Hack Raises Compliance Concerns

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by Giorgi Kostiuk

9 hours ago

The recent transfer of 80,000 BTC from dormancy linked to the MyBitcoin hack in 2011 has attracted attention from experts and regulators.

Transfer of 80,000 BTC

CryptoQuant CEO Ki Young Ju highlighted the significance of the 14-year dormant transfer of 80,000 BTC, reportedly sold via Galaxy Digital.

Bitcoin Market Remains Stable

Currently, Bitcoin (BTC) is valued at $118,215.55, with a market capitalization of $2.35 trillion. Despite a 39.95% decrease in trading volume over the last 24 hours, Bitcoin has seen a 2.25% hike, indicating market stability.

Potential Regulatory Implications

These events may spark renewed regulatory scrutiny over historical transactions. While there are no current regulatory actions, such incidents may lead to further inquiries from regulators. The analysis of blockchain data underlines the importance of transparency in the cryptocurrency sector.

The transfer of dormant assets like 80,000 BTC raises compliance questions in the cryptocurrency industry and emphasizes the need for transparency to ensure market stability.

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