Key notes
- A dormant wallet allegedly linked to Russian citizen Alexander Bilyuchenko has moved its entire balance of 6,500 Bitcoin to two new addresses.
- Bilyuchenko remains in the United States
- The Secret Service’s Most Wanted List for his role in operating BTC-e, a platform accused of laundering billions.
- The move coincides with Bitcoin falling to $105,000 amid more than $1 billion in cryptocurrency liquidations across the market.
Bitcoin
Bitcoin
$106,520
24-hour fluctuations:
1.7%
Market value:
$2.12 T
Vol. 24 hours:
$97.29 billion
The wallet, which had been dormant for three years, transferred its entire balance of about 6,500 bitcoins, worth $694 million, on October 17. According to on-chain analysts, the wallet is linked to Alexander Bilyuchenko, a Russian citizen and alleged co-founder of the defunct cryptocurrency exchange BTC-e.
The bc1ql7c wallet transferred all 6,500 $ Bitcoin($694 million) to new portfolios after 3 years of dormancy.
These are 6,500 $ Bitcoin Originally received from Ivanov (Blyuchenko) 3 years ago.
Bellyuchenko (also known as Ivanov) is a Russian cryptocurrency entrepreneur accused of co-founding the BTC-e… pic.twitter.com/8taSmO19d8
– Loconchain (@loconchain) October 17, 2025
The transaction, recorded at 16:34 UTC, moved funds from the primary wallet to two new, unspecified destination addresses, According to blockchain data. The sending address had originally received bitcoin on November 23, 2022, from another wallet identified as belonging to Bilyuchenko.
Bilyuchenko, who also used the alias Ivanov, is currently on the US Secret Service’s most wanted list for his role in operating the defunct BTC-e exchange. American authorities The platform closed in 2017It was accused of facilitating billions of dollars in money laundering operations for cyber criminals around the world.
According to a 2023 indictment issued by the US Department of Justice, Bilyuchenko conspired to launder at least 647,000 bitcoins stolen during the historic hack of the Mt.Gox exchange. The legal proceedings culminated in the arrest of Alexander Vinnik in 2017. Vinnik was an associate of Bellyuchenko and the general operator of BTC-e.
The fund’s latest move comes just months after Vinick’s He was released from US custody He returned to Russia in a high-profile prisoner exchange in February 2025. This follows a pattern of previous BTC-e wallet activity where large amounts of cryptocurrencies were transferred following significant developments involving previous exchange operators. The specific motive for transferring the money at this time remains unknown.
Alleged ties with Russian intelligence
The case has broader implications because of Bilyuchenko’s reported connections to Russian state actors. According to case documents and 2019 reports, Bilyuchenko testified that he was forced to transfer $450 million worth of crypto assets from WEX, the successor exchange to BTC-e. Details surrounding Bilyuchenko’s alleged transfer to the FSB claimed that the money was transferred to an account of Russia’s Federal Security Service (FSB).
Bitcoin price drops amid billion-dollar liquidation chain | Source: Trading Offer
The $694 million transfer occurs amid weakness in the overall digital asset market. The digital asset market is currently experiencing major turmoil, with Bitcoin falling to the $105,000 level. The sharp drop in prices coincided with a major deleveraging event, with more than $1 billion worth of Bitcoin and other cryptocurrency positions liquidated in the past 24 hours.
This series of liquidations intensified selling pressures, confirming the prevailing bearish trend in the market. According to technical indicators, sentiment towards Bitcoin is negative on the one-hour, four-hour and one-day charts, indicating continued weakness.
JUST IN: $1 Billion in Bitcoin and Cryptocurrency Liquidations in the Last 24 Hours pic.twitter.com/AGUCVHLdE8
— Bitcoin Archive (@BTC_Archive) October 17, 2025
For traders who monitor volatility, the focus is on key price levels. The basic support group is located around $104,044.4. Failure to maintain this level may lead to further decline. On the upside, any potential bounce would face a major resistance area above $108,291.2. The technical forecast indicates that traders are actively monitoring a potential short selling opportunity should the price rise to this resistance area.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former DuckDAO CMO, Zoran Spirkovski translates complex coding concepts into compelling narratives that drive growth. With a background in cryptocurrency journalism, he excels at developing go-to-market strategies for DeFi, L2, and GameFi projects.
The post Dormant Bitcoin Wallet Linked to BTC-e Founder Moves $694M first appeared on Investorempires.com.
