[REP] - BitPanda Addresses

[kingschmidty]

What type of Algorand key?

Account (Wallet Address)

Key

QF3CAWM6RRCTSZCGD4D6V42NGW6ECH6O6VRGI3BEL2TUPHJYJAJ3UXLCTQ

Details

I believe 4 addresses can be linked to BitPanda. These are QF3CAWM6RRCTSZCGD4D6V42NGW6ECH6O6VRGI3BEL2TUPHJYJAJ3UXLCTQ, 32ITT53SHUL5UFMS6AGYGWXX2YIDD5UAV7ZRWVOTJPDFSVDCFH5XTFGTOQ, LRDSA35VTQL3ORSNBCM7TPGMYZKWK3OTRWSKD6NSXOKAOIPHQXJFEKNS2Q, and FFRGW3UJ3SC5MQIVBJ3TLO2KAAJBFPFKERTINN2XALIYPTSLYISB3D2R3U.

Firstly, it looks like QF3C is the close to address for the BitPanda deposit addresses. Here are some txn notes indicating a Bitpanda recipient: https://allo.info/tx/KICJ5QUQTEG4HQA2C2UDV55RYMUW5EQRMK7IAZTEWTS3BESDP5TQ, https://allo.info/tx/OMLW2HUMI4TWJ4LAYSITRIA2CMHVI43INH5H65TZMKDFJ2ZLDJZA, and https://allo.info/tx/73653VMAIUHWUMTI5GYZ5UKJ6G5B5G2YOQ33DBUHZLUEZ7CMMS5Q. All of the recipients closed to QF3C, suggesting QF3C is Bitpanda.
Full list of Bitpanda notes:
QF3C_deposit_BitPanda_notes.csv

The QF3C account was originally funded by another account, 32IT, https://allo.info/account/QF3CAWM6RRCTSZCGD4D6V42NGW6ECH6O6VRGI3BEL2TUPHJYJAJ3UXLCTQ/txns?sorting=ROUND_ASC. 32IT is the largest source of inflows and of outflows for the QF3C account, That 32IT account, had large outflows (>5M Algo) to 3 addresses, QF3C and two others, LRDSA35VTQL3ORSNBCM7TPGMYZKWK3OTRWSKD6NSXOKAOIPHQXJFEKNS2Q and FFRGW3UJ3SC5MQIVBJ3TLO2KAAJBFPFKERTINN2XALIYPTSLYISB3D2R3U, https://flow.algo.surf/address/32ITT53SHUL5UFMS6AGYGWXX2YIDD5UAV7ZRWVOTJPDFSVDCFH5XTFGTOQ. The only other outflows are to deposit addresses on Kraken, Binance, Coinbase, Okex, and Huobi, in descending order. Thus, it looks like the 32IT address is coordinating between QF3C and LRDS/FFRG and exchanges.

Concerning the two addresses, LRDS and FFRG, they appear to be cold storage. The LRDS account, only had outflows as it was being setup and when it closed to the FFRG account, https://allo.info/account/LRDSA35VTQL3ORSNBCM7TPGMYZKWK3OTRWSKD6NSXOKAOIPHQXJFEKNS2Q/txns?sender=LRDSA35VTQL3ORSNBCM7TPGMYZKWK3OTRWSKD6NSXOKAOIPHQXJFEKNS2Q. Meanwhile it received steady consistent inflows from 32IT, https://allo.info/account/LRDSA35VTQL3ORSNBCM7TPGMYZKWK3OTRWSKD6NSXOKAOIPHQXJFEKNS2Q/txns?amountGreaterThan=1. Since May 2024, those steady inflows from 32IT have been going to FFRG instead of LRDS, https://allo.info/account/FFRGW3UJ3SC5MQIVBJ3TLO2KAAJBFPFKERTINN2XALIYPTSLYISB3D2R3U/txns?amountGreaterThan=1. Thus, it looks like a cold storage account which had switched from LRDS to FFRG.

Overall, based on the txn notes to accounts which close to QF3C, the initial and subsequent fundings with 32IT, and the steady flows from 32IT to LRDS and FFRG indicate that these addresses should be associated with BitPanda. QF3C being the exchange address, 32IT being a coordination address, and LRDS/FFRG being old and new cold wallet addresses.

[kingschmidty]

Related to these accounts. I believe that BitPanda is now participating in consensus through the Kiln professional validators.

The address in question is here: https://allo.info/account/5Y2WY2NT3XWORLDCN7XXS4IOKXWZHZ2EUWU7DUA65DYCRMLR5NK4KADA6Y. This address is participating through a Reti Pool, which can be tracked here: https://reti.nodely.io/validators/45. It has the label Kiln, which is a professional validator service, and the largest inflows is from FFRG. Additionally, BitPanda has announced that Kiln is their partnering for staking PoS Staking, https://www.kiln.fi/customers-story/bitpanda.

Thus, overall, we see the funds flow from addresses previously identified with BitPanda to this Reti Pool address and the name of the Reti Pool matches the name of a publically announced BitPanda node partner, Kiln. It is then reasonable to conclude that BitPanda is participating in Algorand staking, and we should expect ALGO to be added to their list of staking rewards shortly, https://www.bitpanda.com/en/staking.

[kirse]

Good eye, that was a recently added pool. I don't follow your statement on the 5Y2 address though.. i.e. what is it?

[kirse]

@kingschmidty Funny timing on this. Looks like BitPanda moved 60M Algo from cold storage to 5Y2 yesterday... which was then immediately redirected to KQASEQS4EMTXPFBDARF2NDJVDJ2R5TQLKZF25RYIUY5YCHPK7FKA2PG7U4 (staking)

See Round #46884077 for Txs.