Arkham: The address starting with 0xf4E11 may be a legacy wallet of Prime Trust, with asset value exceeding 45 million USD

ChainCatcher news, the blockchain data monitoring platform Arkham stated in its social media analysis that the address starting with "0xf4E11" is likely a legacy wallet of Prime Trust, with assets valued at over 45 million dollars, but currently, Prime Trust cannot access this address.

On-chain data shows that the last outflow from the address starting with "0xf4E11" was in January 2020, with funds flowing to another Prime Trust custody wallet, amounting to 527,000 TUSD. Until early 2020, the address starting with 0xf4E11 regularly received inflows. At that time, the Nevada FID indicated that Prime Trust had migrated the address.

From January 2021, the address starting with 0xf4E11 began to receive inflows again regularly. The court documents from FID at that time stated that in January 2021, Prime Trust reintroduced the old address for customer use, but it wasn't until December 2021 that they realized the old address was actually inaccessible.

Previous report, DB NEWSWIRE tweeted that the Nevada Financial Institutions Division (FID) stated that Prime Trust lost access to the old wallet in 2021 and used customer assets to repurchase cryptocurrencies. Prime Trust owes customers 85.67 million dollars in fiat and 69.509 million dollars in digital currency, but currently holds only 2.904 million dollars in fiat and 68.648 million dollars in cryptocurrency. (Source link)