HomeAltcoin270,000,000,000 Shiba Inu (SHIB) Abruptly Sent to Coinbase by a Disputed Crypto...

270,000,000,000 Shiba Inu (SHIB) Abruptly Sent to Coinbase by a Disputed Crypto Lender: On-Chain Data


Bankrupt crypto lender Voyager Digital moved 270 billion Shiba Inu (SHIB) tokens to top US crypto exchange Coinbase in a 12-hour period this week, according to blockchain security firm Peckshield.

Those 270 billion SHIB tokens were worth around $3 million at the time of transfer.

traveler too moved $19 million in Ethereum (ETH) and $4 million in its native Voyager (VGX) token to Coinbase in the same 12-hour period.

“Addresses labeled PeckShieldAlert Voyager have transferred ~$27.7 million worth of cryptocurrency to Coinbase, including 17,000 ETH (~$19 million), 12 million VGX (~$4 million), 270 billion SHIB (~$3 million) in the last 12 hours”.

Source: PeckShield/Twitter

Last July, Voyager was forced to shut down customer deposits and withdrawals after beleaguered crypto firm Three Arrows Capital defaulted on a loan worth hundreds of millions of dollars.

Voyager eventually filed for bankruptcy and reached an agreement to sell $1.3 billion in assets and transfer its clients to Binance.US, though the US Securities and Exchange Commission (SEC) opposed the deal, arguing that the deal could violate securities law.

New York Judge Michael Wiles sided with Voyager and approved the settlement, though the US Department of Justice (DOJ) is appealing his decision.

As of the end of February, Voyager’s had $631 million worth of cryptocurrency in its reserves, including $81 million in SHIB, according to blockchain tracking firm Lookonchain.

SHIB is trading at $0.00001 at the time of writing. The 14th-ranked crypto asset by market capitalization is down 7.8% over the past 24 hours.

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