Bet On Crypto

Ancient Bitcoin Whale Moves $60M After 12 Years!

A wealthy investor with a long-inactive Bitcoin wallet recently moved 1,000 BTC after nearly 12 years of dormancy.

The crypto tracker Whale Alert noted that on Sunday, this old wallet sent 998.73 BTC to one address and 1.263 BTC to another.

This investor gathered the 1,000 Bitcoins back in September 2012. At that time, the total value was only $12,223, according to BitInfoCharts.

Bitcoin transaction

With Bitcoin now trading at around $64,000 this amount is valued at $64 million, an astounding increase of nearly 530,000%.

Throughout the past 12 years, this long-dormant wallet has occasionally received small amounts of Bitcoin. These transactions seem to result from dusting attacks.

Dusting attacks involve hackers sending tiny amounts of cryptocurrency to many wallets. This tactic aims to compromise the privacy of the wallet holders.

Hackers then trace the transactional activity to identify the owners of these wallets. Once identified, they use methods such as cyber-extortion and phishing to steal from the owners.

Sunday’s transaction is not the only recent movement from old Bitcoin wallets. Last Friday, a wallet with 25 BTC worth $1.43 million was activated after more than 10 years of inactivity.

Moreover, on July 9th, Whale Alert spotted a wallet with 24 BTC worth $1.44 million becoming active after over 11 years of dormancy.

Yana is a writer specializing in the latest crypto trends and news. She consistently shares fresh, useful, and interesting information. Her content is known for its clarity and accessibility. Yana simplifies complex crypto topics, making them accessible to everyone through her articles, blog posts, and newsletters.