A leading cryptocurrency analytics firm says a huge amount of Shiba Inu (SHIB) and Ethereum (ETH) is on its way to the US-based crypto exchange Coinbase.
According to PeckShield’s Twitter alert account, about $7.6 million in crypto assets, including 2,500 ETH worth $4.2 million and 250 billion SHIB worth $3.4 million, were sent to the exchange by the bankrupt crypto lender Voyager.
The team at PeckShield released an image that traces the path of the crypto – a move that happened in the last 16 hours.
A similar massive transfer of crypto from Voyager to Coinbase happened last week, to the tune of $28.7 million.
Voyager shut down customer withdrawals and deposits back in July of last year.
The firm pointed at the collapse of the crypto hedge fund Three Arrows Capital as the reason for its failure, saying it failed to pay back a loan worth hundreds of millions of dollars.
After filing for bankruptcy, the crypto exchange Binance stepped in and negotiated a deal to buy Voyager’s assets.
At time of publishing, Ethereum is trading at $1,707, down 3% in the last 24 hours. SHIB is trading at $0.00001360, down 0.5% in the last day.
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Featured Image: Shutterstock/Voger Design
