Can someone please help me understand some unknown transactions on my wallet?

So, I am trying to find out the source of the 578 XRP I deposited on ByBit on 6th October 2021. I can see that entry on my ByBit account and when I goto the transaction hash explorer and it shows me this page —

Now, on this page it shows the source wallet as -rEbcsSsAcGjs9PVDtqoVve1sshUShxPt7Q and destination wallet as – rJn2zAPdFA193sixJwuFixRkYDUtx3apQh. (this is my ByBit wallet I assume)

When I goto the source wallet details, it shows me this page —

Now, when I see the transactions on this wallet, I can’t recognize any of these. Some transactions are as high as $55,000 which I have never even seen together in life. How can these transactions appear on the source wallet which I used to transfer the XRP?

Do exchanges share wallets between users?

Please help me with this!

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3 thoughts on “Can someone please help me understand some unknown transactions on my wallet?”

  1. Yes, exchange wallets are large and not created per user. So the same wallet that transacted your $4.58 is also potentially transacting $100k moves.

  2. It depends on the exchange and coin/token type on how the wallets on the exchange are handled. At the end of the day, the exchange wallet is not “your” wallet, its one of probably multiple that belong to the exchange.

    For some chains, the exchange will have one wallet where everyone deposits to and they differentiate the user deposits by a transaction memo that they ask you to add.

    At the end of the day, even if they give you a dedicated address to deposit to, that doesnt stop them from moving the crypto out and into another wallet once they receive it. You have to remember that most good exchanges keep only a portion of the crypto they receive in hot wallets and the rest is moved into cold storage for security.

    This is why we say “not your keys, not your coins”, because once you deposit with a centralized exchange, they can do whatever they want with it.

  3. Exchange wallets are managed by the exchange, not you. XRP specifically charges a coin lock up fee to open a new wallet so exchanges just use a few and delegate it to accounts internally. As long as the coins are listed in your account you are fine, although I personally wouldn’t leave them long term on exchanges


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