‘Mr. 100’ Mania Returns: Viral Whale Myth Falls Apart Under Scrutiny

On social media, the tall tale of a wallet dubbed ‘Mr. 100’ is making the rounds again, with claims that this mysterious figure is scooping up bitcoin while prices sit in the bargain bin. Yet the wallet has long been tied to the crypto exchange Upbit, and these posts seem more interested in spinning theatrical buzz than sticking to reality.

The ‘Mr. 100’ Plot Twist: Beloved Whale Turns out to Be Upbit’s Cold Wallet

Three days ago, Bitcoin.com News debunked the flood of posts on X claiming Satoshi Nakamoto’s bitcoin wallets could magically be opened with a 24-word seed phrase. Now, a fresh batch of fiction is making the rounds, insisting that an entity social media loves to call ‘Mr. 100’ has been scooping up hefty amounts of BTC.

The crowd slapped that nickname on the wallet because its incoming transfers often land in neat 100 BTC chunks. One X account this week claimed Mr. 100 was “buying the dip” and even posted a screenshot from bitinfocharts.com to seal the deal. That post racked up more than 44,000 impressions, pulled in over 560 likes, and drew upward of 80 re-posts.

Others who echoed the claim or rewrote it in their own words also enjoyed hefty engagement, like one post that tallied 46,000 impressions and grabbed more than 700 likes. The snag with all of this? Mr. 100 is actually the South Korean crypto exchange Upbit, a fact onchain analysts have known for ages.

Bitcoin.com News has covered this twice, pointing out that the entity isn’t some mysterious whale quietly gobbling up BTC. The blockchain explorer Arkham Intelligence tags the wallet as Upbit, and its social media account shot down the rumor last year.

“We believe these assertions are incorrect – ‘Mr. 100’ is in fact an Upbit Cold Wallet,” Arkham said at the time.

A month before Arkham said as much, Bitcoin.com News highlighted how the now-defunct blockchain explorer OXT showed the same thing — Mr. 100 wasn’t a stealth whale stacking bitcoin, but simply Upbit’s cold wallet collecting inflows. Upbit’s address holds roughly 59,335.54 BTC valued at $5.66 billion today.

Yes, it often receives funds in tidy batches of 100, but that detail means absolutely nothing. In reality, just about everything this wallet does — aside from not being labeled on a few explorers — screams exchange, not some BTC-hoarding giant.

Misinformation dressed up as hype does the community zero favors, especially when a routine exchange wallet gets spun into a mythic whale saga. These recycled rumors waste attention that could be spent on real onchain shifts instead of fan fiction passed around X.

FAQ ❓

• Who is ‘Mr. 100’?

It’s an Upbit-controlled wallet often mistaken for a mysterious whale due to its 100 BTC inflows.

• Why is the wallet trending on X?

Viral posts falsely claim the address is aggressively accumulating bitcoin during price dips.

• Is ‘Mr. 100’ actually buying BTC?

No, onchain data shows it’s simply Upbit’s cold wallet managing routine transfers.

• Why does this rumor matter?

Hyped misinformation distracts traders and distorts real market signals in key crypto hubs worldwide.