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30 October 2020

187,000 BTC Drained: Over $2 Billion in Bitcoin Leave the Top Exchanges Since June | Exchanges Bitcoin News

187,000 BTC Drained: Over $2 Billion in Bitcoin Leave the Top Exchanges Since June | Exchanges Bitcoin News


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Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen significant bitcoin reserve balance drops.

A few months ago trading platforms had a lot more bitcoin reserves on hand and onchain data shows a few exchanges have seen customers steadily drain 187,000 bitcoins ($2.1B) from exchange-owned cold wallets.

In February, Coinbase had 1 million bitcoin under management and today reserves are down over 9% as 92,000 bitcoin ($1B) has left the exchange.

36,000 BTC ($408M) left Coinbase since news.Bitcoin.com’s reserves report published on June 30, 2020.

The second-largest exchange in terms of bitcoin reserves held is Huobi and the trading platform is down over 53,000 BTC ($601M) since June 30.

This means 42,000 BTC left Okex since June as 17.5% left the exchange in the last three months.

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