- Justin Sun’s suspected involvement in large-scale crypto transactions raises speculation.
- Parallels between wallets TWGHNc and 0x7a95 fuel suspicions.
In recent market activity, suspicions have arisen surrounding prominent figure Justin Sun, the founder of TRON, following a series of significant transactions involving sizable sums of various cryptocurrencies according to data from the prominent data aggregator, LookonChain.
The suspicions were initially sparked when a wallet believed to be associated with Justin Sun deposited a substantial amount of 90 million USDT (Tether) into the popular exchange Binance.
Notably, shortly after the USDT deposit, another whale wallet identified as “0x7a95” made notable transactions, withdrawing 10,136 ETH (approximately $29.76 million) and 40 million USDT from Binance. Notably, this wallet has a track record of purchasing large quantities of ETH from both Binance and decentralized exchanges (DEX), totaling 91,316 ETH (equivalent to $259.1 million).
Moreover, in the past 32 hours leading up to February 19, an individual or entity purchased a total of 54,721 ETH ($154.4 million) from Binance and various DEX platforms. While the identity of this buyer remains uncertain, speculation points towards Justin Sun due to the correlation between the timing of the transactions and Sun’s previous activities.
Deeper Look
Adding to the intrigue, a wallet under the alias “TWGHNc,” suspected to be associated with Justin Sun, deposited an additional 50 million USDT into Binance just 30 minutes before the aforementioned transactions. This wallet also made a substantial withdrawal of 500 million USDT from an exchange known as HTX, a move that many believe only Sun would have the capability to execute.
Further analysis reveals striking parallels between the transactions of wallets “TWGHNc” and “0x7a95.” For instance, “TWGHNc” deposited 5.41 million USDT into HTX on February 7, followed by “0x7a95” withdrawing 1,100 ETH from HTX on February 8. Additionally, “TWGHNc” deposited 50 million USDT into Binance on February 1, with “0x7a95” withdrawing 9,959 ETH from Binance on February 12.
The pattern continued on February 18, as “TWGHNc” deposited a staggering 200 million USDT into Binance, coinciding with “0x7a95” withdrawing 29,875 ETH ($84.3 million) and 100 million USDT from the same exchange. This series of events has raised suspicions of coordinated activities between the two wallets, potentially orchestrated by Justin Sun.
While these transactions suggest a significant involvement of Justin Sun in the cryptocurrency market, it is essential to note that these conclusions are based solely on on-chain data and speculation. Official confirmation or denial from Sun or his representatives is awaited to provide clarity on these matters.
