Coinbase’s head of product, Conor Grogan, has raised the possibility that a recent $8.6 billion Bitcoin heist might have been a hack. The stolen funds were moved from eight wallets that held Bitcoin for over 14 years. Grogan found a suspicious Bitcoin Cash transaction before the significant transfers, which suggests that bad actors may have compromised private keys.
Grogan pointed out that the unusual behavior was that one wallet’s BCH transactions didn’t attract attention from whale tracking services, unlike other wallets in the cluster. He also wondered why other BCH wallets hadn’t been swept along with the transferred funds. A blockchain intelligence firm, Arkham, confirmed that a single entity moved $8.6 billion worth of Bitcoin into eight new wallets on April 2 or May 4, 2011.
Despite the uncertainty, Coinbase’s concerns have not affected Bitcoin’s price, which has remained relatively stable at $108,150, according to CoinMarketCap data.
Source: https://cointelegraph.com/news/bitcoin-whale-transfer-hack-possibility-coinbase-exec-speculates