One transaction worth of 161,500 Bitcoin (BTC) was sent for only $0.70 in fees. This is the largest bitcoin transaction in dollars: $1.1 billion to be exact.

The fee was only 0.00010019 BTC, i.e. only 70 dollar cents at the time of the transaction. The big question: who has so much bitcoin?

Paolo Ardoino, financial director of crypto exchange Bitfinex, announced that they were ‘the guilty party’. He had a simple explanation: refilling the “hot wallet”, basically the active wallet of an exchange.

Bitfinex is considered by the trader BTC-USD to be the exchange with the most liquidity, according to previous research.

Yep, we refilled hot wallet with 15k, rest went back to original address — Paolo Ardoino (@paoloardoino) April 10, 2020

As can be seen in the transaction details, 15,000 BTC has been sent internally by Bitfinex. The rest BTC of the transaction, a whopping 146,500 BTC, was returned to the original bitcoin address.