The Satoshi-era Bitcoin (BTC) wallet is abruptly waking up after being dormant for nearly 13 years
A long-dormant Bitcoin (BTC) whale has dumped the top $29.75 million crypto asset after sitting on it for almost 13 years.
Blockchain tracking platform Whale Alert first spotted the transaction, noting that the old address had sent all 1,005 BTC it owned to another unknown wallet.
According to BitInfoCharts, the whale first received 1,000 Bitcoin back in November 2010, when BTC was trading at $0.225. The address then received an additional 5 BTC in April 2011 when Bitcoin was trading at $1.31. Overall, the value of the whale’s bitcoin holdings has increased by an incredible 12,848,100% by the time of Monday’s broadcast.
For the past 12+ years, tiny amounts of bitcoin have been repeatedly received in the wallet, an indication of possible dusting attacks, where hackers and scammers send traces of a cryptocurrency (dust) to a large number of personal wallets in order to protect the privacy of the wallet users. to injure the owner.
Other actors, such as academic researchers and law enforcement agencies, could also conduct dusting attacks for non-malicious reasons.
Transactions from long-dormant wallets usually draw media attention because they spark speculation that the BTC may belong to the mysterious inventor of Bitcoin, Satoshi Nakamoto.
Blockchain analysts estimate that Nakamoto has mined one million BTC, starting with the first 50 BTC reward for the Genesis block on January 3, 2009. The last publicly verifiable sighting of Satoshi was in December 2010.
In addition to the long-dormant wallet, bitcoin whales engaged in a number of other large transactions Monday, including:
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