A hobby that started out as a modest mining operation is slowly transforming into a major cryptocurrency dynasty.
Cryptsy founder Paul Vernon, aka BigVern, started his journey into digital currency just a few short years ago as a mining pool operator. After seeing a need by miners to exchange their mined coins, he built a small private exchange for his pool users. That tiny exchange has since blossomed into an American digital currency powerhouse.
A few days ago, I became concerned after seeing a new 7.5 million Goldcoin (GLD) address. That address has since grown to 9 million GLD. This find led me down a rabbit hole where I discovered (among other things) a powerful new block exploring tool called CoinPlorer.
Zetacoin Wallet
I stumbled onto the new block explorer tool while reading a post on Tumblr by a user calling himself Crypto Cuttlefish. He discovered evidence that led him to conclude the World’s richest Zetacoin (ZET) wallet is a cold storage wallet used by Cryptsy. You will notice certain characteristics in all of these wallets. They have large, round, systematic transaction records and all start with a single coin as a test transaction.
Here are a few of the record breaking wallets used by Cryptsy for cold storage. These are just a few quick examples. Overall, around 1/2 of the richest addresses I checked met the criteria outlined in the Tumblr post.
- Zetacoin (ZET), https://coinplorer.com/ZET/Addresses/0/Top, balance: 29,700,001 ZET
- Goldcoin (GLD), https://coinplorer.com/GLD/Addresses/0/Top, balance: 9,000,001 GLD
- Feathercoin (FTC), https://coinplorer.com/FTC/Addresses/0/Top, balance: 4,000,001 FTC
- Infinitecoin (IFC), https://coinplorer.com/IFC/Addresses/0/Top, balance: 34,010,000,301 IFC
- Netcoin (NET), https://coinplorer.com/NET/Addresses/0/Top, balance: 105,050,001 NET
USD Markets
As we reported last week, Cryptsy will be turning on the USD trading pairs soon. Having all of these coins already sitting in the exchange’s coffers could make for a sizzling trading summer season as the influx of fiat begins flowing.
Do you feel these wallets are indicative of an increasing number of users storing coins in their exchange wallets? Log in below using your favorite social network and weigh in on the discussion.