BitMEX Bitcoin Outflow in July is Worse than Reported

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Everybody knows that July was a bad month for one of the world’s largest bitcoin and crypto derivates exchange BitMEX. But they are wrong. July was – evidently – the worst. New data reveals that the Seychelles-based firm experienced its most damaging net inflows in the said month. Fork Monitor found that BitMEX processed withdrawals of about 50,000 bitcoin, which at currency exchange rate equals $476 million. The statistics appeared distinct from what the Token Analyst had reported earlier this month. The blockchain intelligence group had reported a net outflow of less than 40,000 bitcoin – close to $381.50 million as of this time of publishing. Per Fork Monitor, the Token Analyst might have recorded their data from a limited number of BitMEX cold wallets. The BitMEX research group included the missing details, which swelled the exchange’s withdrawals as noted throughout July. “According to BitMEX company data, the Token Analyst’s…

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