Upbit Moves 93M HIVE To Another Wallet!

in #hive10 months ago

Looks like Upbit finaly decided to give Hive a proper wallet.

Up until now the Hive wallet on Upbit was @upbitsteem. It was the legacy one from the old chain.

Now they have moved the HIVE over to @cold.dunamu and as the name suggest it should be a cold wallet. My guess it has something to do with the recent HIVE integration with Ledger and I hope they are now using this option. As the number one wallet holding this amount of HIVE (23% of the supply) it is crucial for this wallet to have the highest security possible.

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https://hiveblocks.com/tx/d4f78f7dbf9903d06e7ee606a2148c6f146a0e9a

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93M hive transferred in just 3 seconds and that too without any transaction fees.

Are you kidding me? xD

Yea around 40M USD in todays price

Kind of scary to think one wallet holds so much HIVE. Hope their security is top notch.

Seems like it just got better

Must have been one of the largest transfers ever :)

The largest one!

I always thought that this Hive belongs to the people trading on upbit. So the exchange- one organization- holds 93M Hive and put it into cold storage?

They have a cold and a hot wallet they use for daily operations an when in need they transfer from the cold to the hot wallet. Its a common setup for security for a lot of exchanges.

I have a similar set up but I don't hold funds for anyone longer than 3s.

okay thanks for clarifying

Wow. I'd be thinking of splitting that over several wallets for extra security. It's a big responsibility.

Now this huge amount is in cold storage, I guess perhaps upbit is the first one to move to a cold wallet.

That's the biggest hive transfer I've ever heard of. Fast, seemless and top notch, but it was a bit scary though.

That’s awesome!

Thats so impressive. Its like 256 bit encryption !

Upbit has always those Hive pumps moving our coin, I guess this is good news?, they're establishing a solid base of participation in this blockchain.

This is the biggest ever hive transfer I have ever seen.

Now googling: "how to hack cold.dunamu"

You're braver than I am - I wouldn't joke about that even in DM 😂 If anyone ever stole it, quite a few people would be out for blood 😲 I have a feeling that prison would be the least of their worries!

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They would have to prove that I have the not only just the intent but also the skill to carry out such a heist. 🙃

Only the authorities have to do that - and for a person everyone's convinced did it, they're probably the best option 😂

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Woah! Surely the Biggest one so far.

It's Good to see that an exchange more like popular hub of whales Holds this huge amount of Hive.... Great in a way we might see Asians fueling Hive Bull run!

Though of course it would be awful if something happened to those funds, from a governance point of view we would have 30 days to review of we thought they were going to be used nefariously.

It's disturbing to see that the supply is so concentrated. Even though they're obviously doing their best, nothing is ever guaranteed. If that ever got dumped 😢

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My guess it has something to do with the recent HIVE integration with Ledger and I hope they are now using this option

I really hope so but unfortunately, there's no way to tell if those keys are derived from the Ledger.