Bankrupt Crypto Lender Moves 287 Billion Shiba Inu to Unknown Wallet

Billions of Shiba Inu (SHIB) tokens are on the move as Voyager, the bankrupt crypto lender, transfers funds from its hot wallet. In a recent tweet, Lookonchain, an on-chain analytics firm, revealed that Voyager has been shifting a substantial amount of SHIB tokens. While the exact motive behind this transfer remains undisclosed, the market tracker theorized that it could be connected to the embattled lender’s plan to reopen customer withdrawals. According to Lookonchain, withdrawal facilities for Voyager’s creditors to access approximately 35% of their crypto holdings, which included Shiba Inu, began on June 20 and will last until July 5. This development comes after Voyager halted all deposits and withdrawals when it ceased its primary operations in July 2022.

Lookonchain shared a link to prominent Ethereum blockchain explorer Etherscan displaying Voyager’s recent transfers involving Shiba Inu. The explorer shows that the four most recent Shiba Inu transactions bear 70 billion SHIB tokens each. These tokens were moved from the address designated ‘Voyager 1’ to an unknown wallet address. In addition, an earlier transaction from the Voyager 1 address involved the transfer of 70 million SHIB tokens. Overall, the recent fund shift by Voyager accounted for a total of 287 billion Shiba Iu coins.

In a related development, the Etherscan shows that no fewer than two billion Shiba Inu coins are being moved from prominent wallets and exchanges, such as Binance, Coinbase, and Hotbit, to decentralized exchanges and untagged addresses.

At the time of writing, Shiba Inu has seen a 15.39% cumulative seven-day growth, with a market cap worth $4.69 billion.

Robert Wilson
Robert Wilson author

As the overseer of NicheBot's editorial content, I am committed to ensuring that all information published on our website is both accurate and relevant to our readers. My fervent support for the crypto industry has led me to closely monitor the developments within it since 2012, and I have contributed extensively to discussions and debates surrounding the world of Bitcoin.

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