Crypto Exchanges' Wallets Balances to Dimish

On average, users have withdraw about 6% in last 3 months
10 January 2019   500

At the moment, 716 thousand BTC (4.1% of total emission), 7 million ETH (6.8%) and 1.2 billion USDT (63.5%) are stored in public wallets of cryptocurrency trading platforms. At the same time, the addresses of the wallets of such large exchanges as Coinbase and BitMEX remain unknown, The Block reports.

Coinbase representatives reported that in December, the platform moved 5% of the total Bitcoin emissions and 8% of all Ethereum coins to the updated vault. However, it has not yet been possible to obtain independent confirmation of this information.

At the same time, some data indicate that BitMEX has about 1% of all bitcoins on their wallets. Thus, at least 10% of the total BTC emission is on the balance of the trading floors.

In the past three months, Bitcoin exchange balances began to decline. On average, users have withdraw about 6%. With this, the largest number of coins left Bitfinex, Kraken and Poloniex wallets, but Huobi, on the contrary, increased its balance sheets.

BTC Balances of Exchanges (last 3 months)
BTC Balances of Exchanges (last 3 months)

A similar situation exists with Ethereum. Gemini, OKEx and Gate.io wallets have lost the largest number of coins, while Bittrex and Kraken have improved the situation. On average, the ETH-balances of trading floors decreased by a little more than 6%.

ETH Balances of Exchanges (last 3 months)
ETH Balances of Exchanges (last 3 months)

Note that the USDT balances of the exchange also decreased significantly. In October, Tether Limited destroyed 500 million tokens, and the new stablecoins [USDC, Paxos and Gemini dollar] strengthened.

USDT Balances of Exchanges (last 3 months)
USDT Balances of Exchanges (last 3 months)

The Block analysts note that this trend may indicate a decline in speculative movements or the desire of users to withdraw assets to personal wallets.

The total value of Bitcoins, Ethereum and Tether on the purses of the Binance Exchange is about $ 1.5 billion, which puts it in the first place among the platforms with public addresses. Followed by Huobi, Bitfinex, Bittrex and Kraken.

Earlier in the Bitcoin network Proof Of Keys took place the, in which users checked the solvency of the exchanges by large-scale transfer of assets to personal wallets. As a result, problems in the were found on Bitfinex, Poloniex and Coinbase Pro.

Cryptopia to Provide New Info Regarding Compensations

The exchange isn't going to refund deposits, sent more than 24 hours after the security breach
25 March 2019   65

The New Zealand cryptocurrency exchange Cryptopia provided additional information regarding the procedure for paying compensation to users who suffered from a hacker attack in January.

According to today's announcement, users who have made deposits to their addresses more than 24 hours after the company reported the incident, that is, after 16/01/2019 12:00AM NZT , will not be able to claim payment in accordance with the previously announced plan.

The Exchange also draws attention to the fact that it currently does not have a specific deadline for returning assets to users to whom such payments are due. Cryptopia addresses are still not available for deposits, so users shouldn't try to transfer funds to them until further notice. After the renewal of deposits, clients of the exchange will need to regenerate the purse addresses for each of the supported cryptocurrencies.

As analysts noted, the funds withdrawal continued even after the official announcement and the start of a police investigation.