What dumbass would do this when fees are so high? Why not drip it and stay under the radar? 

 *dumbass operative here. 

 I don't understand this. Why would you be consolidating when fees are so high? 

 Thank you I noticed it as well but I didn’t understand what it meant. 

 what does this mean ? 

 If your stash is made up of very many small UTXOs, you pay higher fees when doing stuff onchain. So people consolidate their UTXOs into larger chunks.

Imagine you had 100 $1 bills or one $100 bill. And for each individual bill you want to send someone, you have to pay a flat fee on the envelope. 
If you send 100 envelopes with a single $1 bill each, you're paying fees you can avoid by sending a single envelope with a single $100 bill in it.  

 Could have done it yesterday at 45 sats/vByte. Its 500 today. 

 It’s 500 because they are consolidating 

 They fucked up and made a mistake while doing this. This just goes to show how important it is to double check before you press the confirm button. 

 its so strange.

lots of small multisig utxos consolidating into a single sigs at ridiculously high fees.

fees are nearly 1/3rd of the total output on many of the ones I saw.

did they get hacked?
 

 I don't know but MuSigs to Single is a weird pattern for sure. 

One thing's for sure: This is why we can't have nice things. 

 The nicest things are sometimes really fucking expensive 

 Maybe setting up a new proprietary layer for handling signatures? Single signature on the blockchain, multi signature on some new lightning type thing compatible with their corporate login systems and shit 

 Signatures are part of the bitcoin transaction and can not occur anywhere other than the base layer. It's a fundamental part of a bitcoin transaction. 

 

 You're saying lightning is impossible, but lightning exists

How would Bitcoin transactions ever stop another layer from functioning? Doesn't make sense 

 Lightning payment channels are opened/closed as on-chain transactions. While they’re open they work fine. I have two LN nodes and have operated one of them for 4-5 years. But the fact is that signatures are layer one for true btc transactions. 

 Oh, you do know what you're talking about then.

I'm saying these moves could be "opening channels" for some new corporate equivalent, so the single on-chain signature isn't in any one individual's hands (until the new system gets hacked someday) 

 It’s OKX doing it 

No idea why 

 "Now it's the day you'll do the consolidations which were mentioned in the memo." 
"But boss..."
"Now. Didn't you hear what I said."
"M'kay boss"