The cold storage wallet is still not officially disclosed, but a community member found this multichain portfolio, whose bitcoins didn't have much movement for ~a year until a couple of days ago.
'freebitco.in PR' had partially confirmed that the address belongs to Freebitco team. He had confirmed about the address to clear the doubts of a user here in the forum (
check it).
A good portion of the BTCs seem to have been converted to interest bearing ETH. (Is it an investment play? Are they risking our deposits? Nothing bad with a "side-hustle" with all that cash, I would just love some transparency)
Maybe a lot of users have withdrawn their BTC from Freebitco after the recent issues. As a result, they have decided to swap the BTC into ETH. Freebitco team have already taken out all the BTC and ETH from the interest bearing Aave network. The APY rate seems better for Aave interest bearing WETH than Aave interest bearing WBTC. But it's a bit mysterious that they aren't transferring the ETH into the interest bearing network.