Key Notes
- A dormant pockets allegedly linked to Russian nationwide Alexander Bilyuchenko moved its whole 6,500 BTC steadiness to 2 new addresses.
- Bilyuchenko stays on the U.S.
- Secret Service’s most-wanted listing for his position in working BTC-e, a platform accused of laundering billions.
- The switch coincides with Bitcoin dropping to $105,000 amid over $1 billion in crypto liquidations throughout the market.
A Bitcoin
BTC
$110 438
24h volatility:
2.5%
Market cap:
$2.20 T
Vol. 24h:
$56.62 B
pockets that had been dormant for 3 years transferred its whole steadiness of roughly 6,500 BTC, valued at $694 million, on Oct. 17. Based on on-chain analysts, the pockets is linked to Alexander Bilyuchenko, a Russian nationwide and alleged co-founder of the defunct cryptocurrency change BTC-e.
Pockets bc1ql7c simply transferred all 6,500 $BTC($694M) to new wallets after 3 years of dormancy.
These 6,500 $BTC had been initially acquired from Ivanov (Bilyuchenko) 3 years in the past.
Bilyuchenko (also called Ivanov) is a Russian crypto entrepreneur accused of co-founding the BTC-e… pic.twitter.com/8taSmO19d8
— Lookonchain (@lookonchain) October 17, 2025
The transaction, recorded at 16:34 UTC, moved the funds from the first pockets to 2 new, unidentified vacation spot addresses, according to blockchain data. The sending handle had initially acquired the Bitcoin on Nov. 23, 2022, from one other pockets recognized as belonging to Bilyuchenko.
Bilyuchenko, who additionally used the alias Ivanov, is presently on the US Secret Service’s most-wanted listing for his position in working the defunct BTC-e exchange. US authorities shut the platform down in 2017, accusing it of facilitating billions of {dollars} in cash laundering for cybercriminals worldwide.
Based on a 2023 indictment from the US Division of Justice, Bilyuchenko conspired to launder at the very least 647,000 Bitcoin stolen throughout the historic hack of the Mt. Gox change. The authorized actions culminated in Alexander Vinnik’s 2017 arrest. Vinnik was Bilyuchenko’s accomplice and the general public operator of BTC-e.
The current fund motion comes simply months after Vinnik was released from US custody and returned to Russia in a high-profile prisoner swap in February 2025. This follows a sample of previous BTC-e wallet activity the place giant sums of crypto had been moved following vital developments involving the change’s former operators. The precise motivation for transferring the funds right now stays unknown.
Alleged Ties to Russian Intelligence
The case has wider implications attributable to Bilyuchenko’s reported connections to Russian state actors. Based on case paperwork and reviews from 2019, Bilyuchenko testified that he was pressured to switch crypto property value $450 million from WEX, the successor change to BTC-e. Particulars surrounding Bilyuchenko’s alleged FSB transfer claimed the funds had been moved to an account for Russia’s Federal Safety Service (FSB).
Bitcoin Value Plunges Amid $1B Liquidation Cascade | Supply: Buying and selling View
The $694 million switch happens amid weak spot within the general digital asset market. The digital asset market is presently experiencing vital turbulence, with Bitcoin plunging to the $105,000 stage. The sharp worth drop coincided with an enormous deleveraging occasion, as over $1 billion in Bitcoin and different crypto positions had been liquidated within the final 24 hours.
This cascade of liquidations has intensified promoting strain, confirming a prevailing bearish pattern throughout the market. Based on technical indicators, the sentiment for Bitcoin is unfavourable on the 1-hour, 4-hour, and 1-day charts, signaling sustained weak spot.
🚨 JUST IN: $1 BILLION Bitcoin and crypto liquidations over the previous 24 hours pic.twitter.com/AGUCVHLdE8
— Bitcoin Archive (@BTC_Archive) October 17, 2025
For merchants monitoring the volatility, key worth ranges are coming into focus. A major assist cluster is situated round $104,044.4. A failure to carry this stage might result in additional draw back. On the upside, any potential bounce will face a big resistance zone above $108,291.2. The technical outlook means that merchants are actively monitoring for a possible short-selling alternative ought to the value rally into this resistance space.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm data by yourself and seek the advice of with knowledgeable earlier than making any selections primarily based on this content material.
As a Web3 advertising and marketing strategist and former CMO of DuckDAO, Zoran Spirkovski interprets advanced crypto ideas into compelling narratives that drive development. With a background in crypto journalism, he excels in creating go-to-market methods for DeFi, L2, and GameFi initiatives.
