Old Bitcoin Wallet Moves Millions After 13.5 Years of Inactivity

An old Bitcoin address transferred 64.59 BTC over the weekend after being inactive for over 13.5 years.

This wallet originally acquired the Bitcoin in February 2011, when the cryptocurrency was valued at $0.998 per BTC, making the total worth about $64.46 at that time.

According to BitInfoCharts, which tracked the transaction, this Bitcoin stash was worth $4.142 million when moved on Saturday, representing a staggering increase of over 6,426,000%.

Though the wallet had received small amounts of Bitcoin sporadically over the past 13 years, these transactions were likely the result of dusting attacks.

Dusting attacks involve sending tiny amounts of cryptocurrency (dust) to numerous wallets to compromise privacy. Scammers then attempt to track the transaction activities of these wallets to uncover the identities of their owners.