Bitfinex is the 11^th largest crypto exchange by volume.

On April 10, there were waves in the crypto world when a massive bitcoin transaction of 161,500 bitcoin (BTC) occurred at a fee of 0.00010019 BTC.  Translated to US$ the two sides of the equation equal to $1.1 billion vs charges of $0.68. Don’t even try to work out the percentage of the charge.

Who was responsible?

While the transaction was flagged by Twitter user KRMA_0, the responsibility for the transaction was declared by Paolo Ardoino, Chief Technology Officer (CTO) of crypto exchange Bitfinex.

In terms of transaction size measured in US dollars, this is one for the history books – it’s the largest ever. However, the biggest transaction in terms of volume of BTC was that of 500,000 BTC on November 16, 2011. It would be equivalent to a whopping US$3.5 billion today.

Ardoino clarified that the exchange refilled its hot wallet with 15K and that “the rest went back to the original address.”

A hot wallet is a BTC wallet that is connected to the internet. The owner usually keeps this wallet online (“hot”) for reasons of convenience and speed of transacting. Most users keep only a minimum amount, as per their transaction flow, in hot wallets.

Other big-ticket BTC deals

On May 29, 2019, crypto exchange Binance shifted a combined 145,980 BTC to a new unknown wallet for $124.60.

On July 29, 2019, a BTC whale known as “Unknown Owner 26” moved $468.5 million worth of 49756 Bitcoin for just $374.98.

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