US elections rigged again? Over $870M in BTC moving before results

US elections rigged again Over M in BTC moving before results
  • US elections rigged again, or is it just cryptocurrency hodlers?
  • Trump recently raised concerns over election rigging.
  • Trump is the beneficiary of the US elections rigged (allegedly) in 2016.
  • Over $870 million is on the move before the final poll and results.

The 2016 US elections were very controversial, given that the Russian hackers were able to penetrate different US servers and presidential election campaigns. Nevertheless, President Donald Trump, the alleged beneficiary and perpetrator of the hacks was able to get past the initial controversy.

However, in the year 2020, Trump was the first to raise suspicions that in 2020 US elections would be rigged again. Today, when the United States government is about to hold the final election day, the question remains are US elections rigged again?

Are US elections rigged again?

In the past 14 hours before the presidential election day, over 65,000 Bitcoin worth of transactions were recorded by the whale transaction monitoring service Whale Alert. The transactions are worth over $870 million ($871494000) at the time of writing.

Now, these transactions hold an important value for the Bitcoin traders and hodlers alike since the news broke that Joe Biden is expected to be the likely winner, the cryptocurrency market has seen some rise in sentiment.

Moreover, this is the first U.S presidential election to put the technology driving cryptocurrency, i.e., blockchain, to use through the Voatz application. Well, it seems all is set, and the government has taken preventive measures to avoid another US elections rigged again headline, or is it?

By November 2, more than 94 million Americans had already cast their ballots either by in-person early voting or by mail – a process expanded in many areas amid the COVID-19 pandemic. While, as safe as a blockchain may be, a 51 percent attack can bring the best of blockchains down, including that of Bitcoin. Moreover, the Russians indicted in the 2016 US election rigging case admitted the use of Bitcoin.

Out of the over 65000 Bitcoin transactions, over 35000 were transfers from exchanges to different Bitcoin wallet addresses. While over 28000 were transfers from wallets to exchanges. On a regular day, these transactions could be ignored given that Bitcoin whales have moved more than these amounts even in a single transaction, but given the relevance with US elections, these transactions get very suspicious.

Possible reasons

There are three possible scenarios here, the first being the possibility of another hack and the continuation of the US elections rigged saga. The hack is still very much possible, given the huge amounts of votes did not come through the Voatz blockchain.

The second outcome would be a conspiracy theory the Trump camp is setting up to defend their likely defeat. So far, the pre-election day results show that Biden is the likely winner, coupled with Trump’s concerns could be another possibility.

Finally, Bitcoin whales are trying to move into the market in the hope of a likely boost expected post-US elections. Bitcoin is standing in the $13000 range at the time of writing, while various analysts expect the king to move past the $14000 mark after the US election.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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