Bitcoin Worth $52.4 Million Moves From Coinbase Institutional to Unknown Wallet

Bitcoin (BTC) worth about $52.4 million moved from Coinbase Institutional to a wallet described as unknown on Nov. 4, after a larger BTC transfer entered the platform earlier the same day. The two transfers ran in opposite directions, putting a 668 BTC outflow after a 1,086 BTC inflow.

The outgoing transaction involved 668 BTC valued at $52,446,502. Earlier, 1,086 BTC worth about $85.08 million moved from an unknown wallet into Coinbase Institutional. The incoming amount was larger than the later transfer, although both transactions involved the same platform and cryptocurrency.

In sequence, the first movement brought Bitcoin to Coinbase Institutional; the next carried Bitcoin away from it. The recipient wallet for the 668 BTC transfer and sender wallet for the 1,086 BTC transfer were each described only as unknown. The transactions show movements in both directions involving Coinbase Institutional on Nov. 4: first into the platform, then out to an unknown wallet.