In the last two months, the crypto community has been buzzing about a wallet affectionately named ‘Mr. 100.’ This moniker originates from its pattern of receiving 100 bitcoin deposits every few days, leading to speculation that it might belong to a wealthy individual from the Middle East. However, onchain analysts from Arkham Intelligence suspect that this wallet is actually the cold storage of Upbit, a major South Korean cryptocurrency exchange.
Unveiling 'Mr. 100' — The Mystery Bitcoin Wallet Linked to Upbit's Cold Storage
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Arkham Intelligence Suspects ‘Mr. 100’ Is Upbit’s Cold Storage Wallet
Lately, the topic of ‘Mr. 100,’ referring to a bitcoin (BTC) address “1Ay8v” which boasts a balance of 52,996.88 BTC, has captured the attention of crypto enthusiasts. As of now, this wallet ranks as the 14th largest bitcoin holder. The name ‘Mr. 100’ stems from the consistent 100 BTC deposits it has received, as recorded by onchain data. This topic has recently gained traction on the social media platform X, sparking a great deal of discussions among the community.
There has been some conjecture regarding ‘Mr. 100’s origins, with some believing the individual could be linked to a rumored billionaire from Qatar. “Mr. 100 has got to be a nation-state,” one individual remarked on Friday. “Wonder if we find out which one? I’m pointing at the Middle East.” As is often the case, the rumors swirling around the Pay-to-Public-Key-Hash (P2PKH) address are probably far from accurate and entirely misguided.
On Saturday, the blockchain analysis company Arkham used the social platform X to share with the community that the wallet is most likely owned by Upbit. The centralized cryptocurrency exchange Upbit, situated in South Korea, stands as the nation’s leading trading platform by crypto trading volume in the region. “Mr. 100 is a BTC address that receives 100 [ bitcoin] at a time,” Arkham posted to X. “Many have speculated that Mr. 100 is buying [ bitcoin] – as a large fund, Middle Eastern nation, or even a bitcoin ETF.”
Arkham added:
We believe these assertions are incorrect – ‘Mr. 100’ is in fact an Upbit cold wallet.
Arkham expressed confidence in this identification due to the wallet’s solid and regular links with other Upbit exchange wallets. These connections follow the expected behavior of a trading platform’s cold wallet. Moreover, the onchain intelligence firm emphasized that Mr. 100’s address primarily acquires its 100 BTC inflows through consolidating Upbit deposit wallets. Additionally, Arkham explained that a portion of its outflows contribute to funding Upbit’s hot wallets, which facilitate customer withdrawals.
What do you think about Arkham identifying ‘Mr. 100’ as an Upbit cold storage wallet? Let us know what you think about this subject in the comments section below.
