Newly Created Wallet Withdraws 2,500 Bitcoin Worth $202 Million from Binance
A wallet created shortly before the transaction withdrew 2,500 BTC valued at $202.17 million from the Binance exchange within the past hour. The wallet address is bc1qhx. On-chain monitoring service Lookonchain reported the large withdrawal.
pandaily.comA newly created cryptocurrency wallet with the address bc1qhx withdrew 2,500 Bitcoin from Binance in the past hour. The wallet had not shown any prior activity before executing the large transfer. Such withdrawals by new wallets sometimes draw attention from on-chain analysts who track movements from major exchanges.
The single transaction moved the full 2,500 BTC in one batch.
At the time of the withdrawal, each Bitcoin was worth approximately $80,868. Lookonchain reported the movement on May 7, 2026. The service regularly monitors and publicizes large cryptocurrency transfers from exchanges to external wallets. No further details about the wallet's ownership or intended use of the funds have been disclosed.
Key Facts
Story Timeline
2 events- Past hour
Newly created wallet bc1qhx withdrew 2,500 BTC from Binance.
1 source@lookonchain - May 7, 2026
Lookonchain reported the $202.17 million Bitcoin withdrawal.
1 source@lookonchain
Potential Impact
- 01
The event highlights continued large-scale Bitcoin movements between exchanges and private custody.
- 02
The large withdrawal may prompt other on-chain observers to monitor subsequent movements of these funds.
- 03
Such transfers can contribute to short-term volatility in Bitcoin trading activity.
Transparency Panel
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