Crypto Investor Moves Tens of Millions of Bitcoin After 12 Years of Inactivity

A crypto whale moved 1,000 BTC from a long-dormant wallet, marking the first activity in nearly twelve years.

According to crypto tracker Whale Alert, the ancient wallet initiated two transfers on Sunday: 998.73 BTC to one address and 1.263 BTC to another.

The investor originally acquired this stash of 1,000 Bitcoins back in September 2012, when its total value was a mere $12,223. With BTC now trading at $64,682, the value of this holdings has surged to over $64.7 million, representing an astronomical increase of nearly 530,000%.

Whale Alert noted that while the wallet remained dormant, it sporadically received trace amounts of Bitcoin over the years, possibly due to dusting attacks.

These attacks involve sending tiny amounts of cryptocurrency to numerous personal wallets to compromise privacy and potentially facilitate further malicious actions, such as cyber extortion and phishing scams.

Recent weeks have seen other long-inactive wallets becoming active again in the crypto space. Just last Friday, a wallet holding 25 BTC worth $1.43 million was activated after more than a decade. Similarly, on July 9th, Whale Alert reported another wallet with 24 BTC worth $1.44 million being activated after over 11 years of dormancy.