A deep-pocketed Shiba Inu (SHIB) trader is suddenly moving trillions of SHIB out of a Netherlands-based crypto exchange platform.
New data from whale research platform Whale Alert reveals that the Shiba Inu whale moved 4,584,530,677,374 SHIB, worth approximately $33 million, from Bitvavo to an unknown wallet.
According to Ethereum (ETH) blockchain explorer Etherscan, the Handover took place during the early morning hours of October 5.
SHIB’s move comes a week after Shiba Inu’s development team advised investors to do their own research and be wary of suspicious actors claiming to be part of the SHIB ecosystem.
At the time, the SHIB team said that just because someone or an entity uses the name ‘Shibarium’, which is the name of the ecosystem’s recently launched layer-2 scale solution, does not mean they are associated with the project.
According to the SHIB team, all official partnerships would be announced via the ecosystem’s Discord channel or via the official blog.
Earlier in September, the SHIB ecosystem saw rapid growth following the highly anticipated launch of Shibarium, leading to a spike in stakes for Bone ShibaSwap (BONE), the digital asset used to pay tier-2 gas costs .
At the time, data from SHIB blockchain tracker Shibariumscan showed that the total number of transactions via Shibarium exceeded 2.5 million. Data from the layer 2 scale solution showed that more than 27 million BONE had been deployed.
SHIB is trading at $0.000007 at the time of writing, while BONE is trading at $0.795.
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Featured image: Shutterstock/Pair Srinrat/karnoff
