Long-dormant Bitcoin Address Springs to Life, Moving $30 Million Hoard
In July, several dormant bitcoin wallets that had been untouched since 2012 suddenly became active, initiating transactions for the first time in over 11 years. Here are the key points:
- Eight sleeping bitcoin wallets from 2012 woke up and moved a total of approximately 1,216.92 BTC this month.
- The previous instances of bitcoin activity from 2012 involved dormant wallets that totaled 179.50 BTC.
- The dormant whale address moved a massive 1,037.42 bitcoins on Saturday.
- The recipient address of the 1,037.42 BTC obtained the coins in April 2012 when the value of a single BTC was only $4.84.
- After the initial transaction, a reduced 1,037.4189247 BTC was transferred from the wallet.
The initial transaction had privacy flaws and received a low privacy score of zero out of 100. This indicates significant privacy issues that endanger the parties involved. Here is my hot take:
Hot Take
The recent activity of long-dormant bitcoin addresses from 2012 suggests that there may be a growing interest in accessing and moving older bitcoin holdings. The significant value of the transactions indicates that these addresses may belong to early bitcoin adopters or investors. It will be interesting to see if more dormant addresses from previous years become active in the coming months.
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