October Witnesses Several Connected 2012 ‘Sleeping Bitcoin’ Spends
On October 19, 2023, a dormant bitcoin address from 2012 suddenly became active again and transferred 200 BTC worth $5.74 million. This is the first time in almost 11 years that any movement has occurred in this address. Interestingly, this activity aligns with a recent surge of transfers from other 2012 addresses, which started in early September.
Another Dormant Bitcoin Address Activated
On Thursday, yet another dormant bitcoin address from 2012 was activated and transferred 200 BTC valued at $5.74 million. The address, called “1DabG,” was created on November 1, 2012, when BTC was priced at $11.20 per unit. This means that the initial value of the wallet was $2,240.
A privacy tool from Blockchair flagged vulnerabilities in the 2012 transaction, including matched addresses, co-spending, and round values. To date, there have been a total of seven recorded transactions from 2012 in October.
Other Recent Transfers from 2012 Addresses
Last month saw a total of 19 transfers from 2012 addresses. The most recent one this month occurred on October 12, when an address called “1AVeQ” moved 110 BTC. Another address called “1Agnu” executed a transfer of 10 BTC on September 30.
Prior to these transactions, there were notable transfers from addresses dating back to 2014 on October 6. A total of 86 wallets relocated 860 BTC across various block heights, totaling $24 million. The address “1NaoX” received the recent transfer of 200 BTC and now holds a total of 404 BTC, equivalent to $11.62 million.
Mysterious Address Holds Significant Bitcoin
The address “1NaoX” is unique, as it has held 1,116 BTC over its existence and has transferred 712 BTC. It also received the first 2012 transfer of the month on October 6. This suggests that several of the enigmatic 2012 transactions in October are connected to the same owner.
Hot Take: Dormant Bitcoin Addresses from 2012 Are Waking Up
In recent months, there has been a notable increase in activity from dormant bitcoin addresses created in 2012. This trend started in September and has continued into October, with multiple transfers occurring from these addresses. The sudden movement of significant amounts of BTC from these long-dormant wallets raises questions about the motivations behind these transactions. It is unclear why these addresses are suddenly becoming active after years of inactivity. However, it is worth noting that this activity coincides with a period of increased interest and investment in the cryptocurrency market. Could these transfers be a sign of renewed confidence in bitcoin or simply a strategic move by early adopters? Only time will tell.
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