Ancient whales are in action. According to data from an on-chain analysis platform, addresses suspected to be involved in the notorious exchange hack from years ago have been active frequently in the past week—transferring 1,300 BTC to different platforms.

What’s the story behind this? Going back to 2011, this "dark web figure" was accused of hacking into the world's largest exchange at the time, stealing 647,000 BTC in a single incident. Later, his activities expanded into underground trading networks, operating infamous platforms, and becoming a "money laundering tool" for ransomware groups and drug traffickers.

The current situation is as follows: the related address still holds 4,100 BTC, which is roughly $360 million at current prices. He has already sold off 2,300 BTC. The additional transfer of 1,300 BTC this week continues to increase market selling pressure.

Interestingly, this timing coincides with the entry of chips from 2011. On one hand, there is a huge motivation for cashing out; on the other hand, it reflects the eternal struggle between "free trading" and "legal restrictions." The price trend has become somewhat shaky, and this wave could really mark a turning point in the market.