Rising From the Archives: 2012 Wallets Move 307 Bitcoin
In September, there have been 19 instances of “sleeping bitcoin” from 2012 being spent, while no such activity was recorded for bitcoins from 2010 or 2011. On September 24, 2023, at block height 809,204, the bitcoin address “1HdwP” transferred 149.99 BTC valued at $3.93 million to the address “1LWgC.” These vintage bitcoins had remained untouched for over 11 years before this transfer.
The original “1HdwP” address was created on February 8, 2012. At that time, BTC traded at $5.69 per unit. By the day of the recent transfer, the value of the stash had increased to $3.93 million.
The blockchain parser btcparser.com detected the movement of these bitcoins and Blockchair’s privacy tool gave it a privacy score of zero. This suggests that identified issues are significantly endangering the privacy of the parties involved. One vulnerability detected was address reuse.
Another Transfer from 2012 Wallets
On the following day, another address originating from February 8, 2012, transferred 157.66 BTC valued at $4.1 million at block height 809,258. The address “1AGwm” did not employ any privacy measures and vulnerabilities in the transaction included address reuse and round value outputs.
After these transfers, the total amount of bitcoins moved from wallets created in 2012 reached 5,438.46 BTC, approximately valued at $141 million.
Movement of Bitcoins from Other Years
In addition to the transfers from wallets created in 2012, there were also two transfers of 59.19 BTC from 2015 and a transfer of 15 BTC from 2016. Furthermore, three transfers totaling 139.99 BTC were made from 2014 wallets on September 23 and 24. Notably, 63.99 BTC of that amount was transferred shortly before the 149.99 BTC transaction from 2012.
Hot Take: Dormant Bitcoins Awake
Old bitcoins from years past are suddenly seeing movement in the cryptocurrency market. With transfers totaling millions of dollars, it appears that long-dormant wallets are being accessed once again. This trend raises questions about the motives behind these transfers and the potential impact on the market. As more sleeping bitcoins awaken, it will be interesting to see how this activity shapes the future of cryptocurrency.
By
By
By
By
By