Bankrupt crypto lender Voyager has made a big meme coin transfer. Voyager moved $7.6 million in crypto assets Monday, blockchain security firm PeckShield reported.
#PeckShieldAlert Voyager-labeled address has transferred ~7.6M worth of cryptos, including 2,500 $ETH & 250B $SHIB to Coinbase within the last 16 hourshttps://t.co/uPHs0c4woj pic.twitter.com/bdGa2QO6Ut
NEWS CONTINUES BELOW— PeckShieldAlert (@PeckShieldAlert) February 20, 2023
Voyager according to data coinbase250 billion to shiba inu and 2,500 ETH sent. The transfer in question came at a time when both the price and trading volume of the popular meme coin SHIB were increasing. According to CoinMarketCap data, SHIB trading volume has increased by 155% in the last 24 hours.
As we previously reported, Voyager made similar transfers last week, sending 250 billion SHIB to Coinbase and 15,000 ETH to Binance US and Coinbase.
It is not yet known why Voyager made these crypto transfers worth millions of dollars. However, these large transfers did not go unnoticed by the crypto community. Many in the community think Voyager wants to monetize the last market rally to pay back creditors.
Voyager’s downfall began in July when Three Arrows Capital was forced to close customers’ withdrawals and deposits, citing its failure to repay a loan of hundreds of millions of dollars. The company subsequently filed for bankruptcy.
Meme coin price action
SHIB is currently trading at $0.00001369 after hitting its intraday high of $0.00001399. After rebounding from the lows of $0.001256 on February 16, the meme coin rose steadily and hit $0.000014 on February 19.
You can follow the current price action here.