Poolin, a firm that runs a crypto mining pool and a wallet service, moved BTC 5,640 BTC ($150 million) from its main wallet on April 21, shows CryptoQuant veri, around the time that the world’s largest digital asset dropped to $28,000.
This marks the biggest outflow from miners since December 2020.
The firm has issued at least $238 million in I-owe-you (IOU) tokens, according to analyst estimates, to its users after it froze withdrawals from its wallet service in September, citing liquidity issues.
Data from CryptoQuant shows that Poolin still has 9,935 BTC in its accounts. It is unclear whether the $150 million was liquidated or simply moved to another account.
Poolin hasn’t posted any updates on redeeming the IOU tokens on its wallet arm’s Medium. Several users on its Telegram community support forum were still complaining about not being paid back as of the time of writing.
The firm could not be reached for comment.
Recommended for you:
- El Salvador Grants First Digital Asset License to Bitfinex
- First Mover Asia: BitDAO’s $100M Token Buyback Plan Gets Mixed Reviews
- Web3 Gaming Studio Mythical Games Releases New Marketplace
- Join the Most Important Conversation in Crypto and Web3 in Austin, Texas April 26-28