A Bitcoin whale wakes up from sleep, sends $ 30M BTC

After an eight-year dormant period, a bitcoin whale unexpectedly transferred $ 30 million BTC worth. On November 20, 2013, the launch received exactly 1,000 BTC, Blockchair reports.

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The bitcoin remained in one wallet until it was moved as part of a much larger blockchain. Almost 2,100 BTC were sent to two other addresses. One address received 2,000 bitcoins and the second address collected more than 99.99 bitcoins.

Bitcoin movements in an idle wallet

The 1,000 BTC was worth $ 30,090,000 at the time of shipment. That’s more than 53 times the basic price in 2013, when Bitcoin was only $ 567. The transaction generated only 0.0016 BTC in fees, which was approximately $ 47.15 at the time of execution.

Over the past eight years, the inactive whale wallet has received 23 times minimum amounts of bitcoin. These volumes appear to have been used for so-called dust attacks.

What are dust attacks? Hackers and scammers send small amounts of bitcoin (or other cryptocurrencies) to breach the privacy of the wallet.

Blockchain tracker Whale Alert handled the transaction and reported on Twitter:

msgid “Idle address with 1,000 #BTC ($ 30,395,186) just activated after 8.5 years ($ 468,643 value in 2013)!”

💤 💤 💤 An idle address of 1,000 #BTC (30,395,186 USD) just after 8.5 years of operation (worth 468,643 USD in 2013)! https://t.co/P9teBUAuY4

– Whale Alert (@whale_alert) May 13, 2022

Blockchair also identified another wallet that had been dormant since 2012 and finally transferred 500 BTC on Thursday. The first deposit of bitcoin alone was made on April 5, 2012. On June 3 of the same year, another 499 BTC were added to the wallet. Bitcoin was priced at just $ 5.25 per coin at the time.

However, during this period, the wallet received small amounts of BTC, which appeared to be dusty transactions used by scammers to carry out dust attacks.

Does the Bitcoin wallet belong to Satoshi Nakamoto?

The creator of Bitcoin has been silent for years. Therefore, transactions from a long dormant wallet usually attract media interest. Because they are the result of speculation that the BTC may belong to the mysterious creator of Bitcoin, Satoshi Nakamoto.

Nakamoto launched the Genesis block on January 3, 2009. Since then, it has successfully mined nearly 1,000,000 BTC, according to blockchain analysts.

Satoshi confirmed its appearance on the web in December 2010. At that time, the Bitcoin client software was at version 0.3.19. Now the version of bitcoin is 22.0.

Bitcoin has shown strong fluctuations in recent months. A week ago the price was $ 36,000, it dropped to $ 25,401 last Thursday.

Bitcoin is currently recovering from a market-wide downturn. Currently (at the time of writing) it is up 13.5% from this year’s low and is trading for $ 29,553.

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Text credit: Newsbtc

Last updated 16 May 2022

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