Data appears to contradict Bitfinex’s claim that the reason for its users withdrawing 135,000 Bitcoin (BTC) from the exchange was an arbitrage opportunity that ensued following Black Thursday.
On Thursday, March 12, Bitfinex was holding 200,000 BTC. By May 25, this number dwindled to just 65,000 BTC. This is a 67% decrease over the span of two and a half months.