Mysterious Bitcoin Whale Moves $35 Million After 12.5 Years

A Bitcoin wallet that had been inactive for over a decade recently made a massive transaction, moving 400 BTC valued at approximately $35.8 million.

The wallet, which had remained untouched since it received the Bitcoin in June 2012, saw its holdings appreciate by an astonishing 1.64 million percent, given Bitcoin’s price of $5.45 at the time of the deposit.

Crypto tracker Whale Alert reported that the funds were transferred to an unknown address this past Sunday. Although the wallet had seen sporadic tiny transactions over the years, these appeared to be linked to dusting attacks.

These attacks involve scammers sending negligible amounts of cryptocurrency to wallets to track the owner’s activities and potentially breach their privacy.

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The sudden movement of such a large sum of Bitcoin has raised speculation within the crypto community. Some believe the original owner may have been waiting for the right moment to cash in on their long-term holdings, while others think the transfer could be part of an effort to launder or conceal the funds.

The dormant wallet has prompted increased interest in tracking the movement of older Bitcoin, as large, previously untouched sums tend to signal potential shifts in market behavior.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.