Kraken Faced a Massive Bitcoin Withdrawal, Transferring the Equivalent of Almost $400M

Data shared by the popular blockchain sleuth Whale Alert, which monitors large crypto transfers and shared the details on its X account, shows that several hours ago, major U.S.-based cryptocurrency exchange Kraken faced a massive Bitcoin withdrawal.

Major U.S.-based cryptocurrency exchange Kraken faced a massive Bitcoin withdrawal several hours ago, according to the popular blockchain sleuth Whale Alert, which monitors large crypto transfers and shared the details on its X account.

The transfer carried the equivalent of almost $400 million in Bitcoin. Over the past day, this has been the third Bitcoin withdrawal of this size made from Kraken.

Aside from them, Whale Alert spotted two other BTC transactions, with the largest U.S. crypto exchange, Coinbase (NASDAQ:COIN), involved.

The other two withdrawals from the same platform that have taken place during the past day carried almost similar chunks of crypto - 4,069 BTC and 4,420 BTC valued at $331,654,708 and $359,110,039 at the time of the initiated transactions.

Whale Alert spotted two more massive Bitcoin transfers. A total of 1,799 BTC worth $149,168,702 was moved from one anonymous wallet to another, which may indicate an OTC trade or a whale spreading Bitcoin between his wallets. The amount of 1,800 BTC (equal to $148,993,026) was withdrawn from the Coinbase crypto exchange.

Over the past 24 hours, the bellwether crypto has managed to surge by 7.3%, hitting $83,270. That was followed by a small 2.39% drop, after which another attempt to rise took place.

As of this writing, Bitcoin is changing hands at $82,850 per coin on the Bitstamp exchange.