On the evening of November 2, Huobi transferred about 100 million USDT to Bitfinex in 10 transactions. This was a normal operation of a wave of cross-chain swaps. The price of USDT plummeted, and the OTC price of Binance U fell even worse. How many people panicked and didnt hold on in 6.3, and they cut their meat at a low price to get money. They didnt expect this wave of rhythm, and they were cut with a U.
What is cross-chain swap? In order to meet the needs of different public chain ecologies for stablecoins, USDT is issued on multiple public chains. Currently, ERC20 USDT and TRC20 USDT occupy the mainstream, so trading platforms will need to perform swap operations on ERC20 USDT and TRC20 USDT to meet the needs of different platforms. Chain USDT liquidity demand.
Before we consider whether to withdraw U, the first thing we need to do is to find out through the blockchain browser how the transfer of nearly 100 million U is transferred on the chain, and the recent transfer behavior of the transfer address characteristics, and then make the next decision.
If you have subscribed to large-value transfer monitoring for free on the Tokenview Blockchain Browser official account, you will definitely receive real-time notifications of this multiple large-value transfers. After that, we will manually query these transactions. Through trx.tokenview.com, we can find out that the address starting with TNaRAoLUy has been marked by Tokenview. It is a common withdrawal address of Huobi (https://trx.tokenview.com/cn/address/TNaRAoLUyYEV2uF7GUrzSjRQTU8v5ZJ5VR), the address currently has more than 1.1 billion TRC20 USDT. In addition to USDT, you can also see that this address also owns BTT, SUN, JST and other token assets.
By checking the Token transfer records of this address, we can find 10 consecutive transfers totaling 100 million U that occurred in this incident. At the same time, we can also see other external transfers, as small as a few U, as large as several thousand, and tens of thousands of U. Yes, this is the withdrawal operation of Huobi Exchange.
After that, the large-amount monitoring of Tokenview Blockchain Browser detected a large-amount transfer of 100 million Erc20 USDT from Bitfinex 4 to Huobi.
We searched the address of Huobi through eth.tokenview.com and found that Bitfinex 4 and Huobi9 will carry out more than ten million USDT large-value transfers every month through the address starting with 0xd14 (https://eth.tokenview.com/cn/address/0xd14162725742f4914fd9857fab0239a1e84e626a）
Through our manual query, we can clearly understand that the transfer of 100 million U is a normal cross-chain swap operation for Huobi. You can follow 【Tokenview Blockchain Browser】, subscribe to this address and observe the subsequent transfer operations.
Since the OKex incident, it seems that most people in the currency circle are very nervous. Regarding the large-amount withdrawals in the currency circle, the restrictions on withdrawals on certain platforms and other topics are all tense. But the data on the chain will not lie, which is one of the biggest charms of the blockchain. Any transaction will be permanently left on the chain. We only need to patiently inquire and analyze rationally through the Tokenview blockchain browser. In the face of turmoil, rumors, and panic, we will have a calm and calm confidence. The loss of gold can also be avoided.
