699.5 BTC transferred out of Paxos, worth approximately USD 53.74 million

Shenchao TechFlow reported on October 31 that, according to Whale Alert, around 04:23 Beijing Time, approximately 699.5 BTC were transferred from an address labeled Paxos to an unknown wallet, valued at approximately USD 53.74 million at the price during the transfer.

On-chain data shows that the transaction has been confirmed in Bitcoin block 973871. The sender name comes from Whale Alert's address label, while the recipient address currently has no public label, so the purpose of the transfer cannot yet be confirmed; details are pending further on-chain tracking.

Source: Shenchao TechFlow