They are transferring from pre-segwit to segwit addresses as per OP:s/Murch's thread. Good in theory, but the executed in an expensive and somewhat disruptive way.
This is the Tweet that kicked off the Twitter thread:
So, I guess it's time to do a #mempoolreport. On 2022-05-11, just after just before 17:00Z, Binance started dumping about 100 blocks worth of consolidation transactions into the mempool. Other than the usual approach, where consolidations are fed to the lower end of the mempool…
I'm 65% sure this was in some way malicious on Binance's part.
They are transferring from pre-segwit to segwit addresses as per OP:s/Murch's thread. Good in theory, but the executed in an expensive and somewhat disruptive way.
Which sounds like a perfectly reasonable action. What's missing for me is an explanation as to why now of all times. Seems like a smoking gun.
Damn
This is the Tweet that kicked off the Twitter thread:
view on twitter.com