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Tracing the huge amount of bitcoin moving around

8 March 2014 No Comment

As the Internet (Specially Reddit) knows; Someone moved 180,000 Bitcoin (Which is currently equivalent to 110 million USD) to the address 1KecDYadohxk8MCDqKF8SBEMhCUNveAsCj (lets call that Address #X)

The money came from 4 addresses:
12HddUDLhRP2F8JjpKYeKaDxxt5wUvx5nq 50,000
16Ls6azc76ixc9Ny7AB5ZPPq6oiEL9XwXy 40,000
1P3S1grZYmcqYDuaEDVDYobJ5Fx85E9fE9 50,000
1cXNTyXj4xPGopfYZNY5xfSM1EPJJvBZV 40,000

Lets track 16Ls6azc76ixc9Ny7AB5ZPPq6oiEL9XwXy and lets call that Address #A

Address #A received 40K from 1U5EGSHJeyZd4AHjcSCVZmcgepgKzB72V in 2011-11-16 05:38:46 and has been there since. lets call that Address #B

In 2011-09-11 Address #B received 100K
50K from 1C4BcavzUshEGv7G6CERikD3ccWe2iWyD9
And 50K from 158jzBkJFZJz8soep4RR1WALnVgvMD1STr

In 2011-11-16 it sent 40K to Address #A
Sent 10K to 1HGoGebkz9Cb66PVEKzofxiifSGU7GZhWb
And with 9 other addresses they sent 550,000 bitcoin to two addresses:
50,000 BTC to 1P3S1grZYmcqYDuaEDVDYobJ5Fx85E9fE9
And 500,000 BTC to 1M8s2S5bgAzSSzVTeL7zruvMPLvzSkEAuv lets call that Address #C
View transaction here https://blockchain.info/tx/29a3efd3ef04f9153d47a990bd7b048a4b2d213daaa5fb8ed670fb85f13bdbcf

Address #C kept spending small amounts and finally 499,246 bitcoin found its way to 1LNWw6yCxkUmkhArb2Nf2MPw6vG7u5WG7q (Lets call that Address #D)

Here is a graph showing it: http://i.imgur.com/4uKqVuH.png
You can track it yourself here: https://blockchain.info/tree/2048819

And Address #D belongs to MTGox, it’s MTGox’s green address https://bitcointalk.org/index.php?topic=48170.0

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Back to Address #B:
It recieved 50K from 158jzBkJFZJz8soep4RR1WALnVgvMD1STr

158jzBkJFZJz8soep4RR1WALnVgvMD1STr got the 50K from 1DNMiQRXNM4DhXZGF6vqnCTS14u6twahnR

And 1DNMiQRXNM4DhXZGF6vqnCTS14u6twahnR got the 50K from 1eHhgW6vquBYhwMPhQ668HPjxTtpvZGPC
Let’s call 1eHhgW6vquBYhwMPhQ668HPjxTtpvZGPC Address #E

A pastebin dating back to 2011 proves that Address #E is owned by Mark Karpeles (@MagicalTux) http://pastebin.com/d7vp06hL

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Conclusion:
Mark/MtGox had 550K bitcoins at 2011, he sent the money left and right but he had 180K BTC cold in 4 addresses since then.
And in 7th of March 2014 he moved them to Address #X from addresses that belonged to him.

Where is that 180K now? using this graph tool https://blockchain.info/tree/114684155
I saw he was breaking the 180K to smaller amounts and sending them to different addresses and he kept dividing them to 10 bitcoins (Less or more).
I tracked some money till i hit the receiving-end address.

Here is 50 addresses of his many addresses that now have valid balancehttp://pastebin.com/BAthV8zd but might not stay like that for long!

And i don’t think that’s a hacker moving the money he stole from MtGox.
The money was in MagicalTux’s possession since 2011 the hacker would’ve moved the money already, why just now?

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