Someone Just Sent $1 Billion in Bitcoin, Paid Only $3 in Fees

In back-to-back transactions this morning, 45,671 Bitcoin ($602 million) and 43,185 Bitcoin ($570 million) left a Xapo account to other wallets.

That's over $1.1 billion in Bitcoin, and all for a total transaction fee of $3.54.

45,671 #BTC (602,832,400 USD) transferred from #Xapo to unknown wallethttps://t.co/pj7YNs8gBW

— Whale Alert (@whale_alert) October 26, 2020

Though the same account sent the funds, they went  to two different unknown wallets.

It's not unusual for Xapo wallets to send large chunks of Bitcoin, just usually not this big. In the past week, 4,000 BTC and 1,000 BTC amount have left Xapo wallets, for instance.

People in the comments can't even understand what happens.
It's a Xapo wallet. Every couple of weeks chunks of 4000-5000 BTC are taken out of the pie and sent to other addresses, where they stay for months or are used for flows.
The chain has shed more than 24000 BTC since Feb.

— rusu (@rusuvictor) October 26, 2020

But the size of these transactions dwarfs that.

Xapo did not respond to a Decrypt request for comment.