Bitcoin whale breaks 8-year hiatus with $30M worth of BTC transfers

After eight years of dormancy, a Bitcoin (BTC) whale has unexpectedly moved $30 million worth of BTC. On November 20, 2013, the exact address received 1,000 BTC worth $567,600 at the time, seat report.

Bitcoin sat dormant in a wallet until it Moving The block sent nearly 2,100 bitcoins to two other addresses as part of a larger block. An address received 2,000 bitcoins, And the second one collected more than 99.99 bitcoins.

Related reading | Snoop & Gary Vee Take ‘Ownership’ Of Basketball Team With Ice Cube’s BIG3 NFT

Bitcoin movements in dormant wallets

1,000 BTC is worth $30,090,000. This is more than 53 times the original price in 2013, when Bitcoin was only $567. The transaction cost only 0.0016 BTC in fees, which was about $47.15 at the time of execution.

Over the past eight years, inactive whale wallets have received 23 trace amounts of bitcoin in what appears to be a dusting attack.

What is a dust attack? These involve hackers and scammers sending extremely small amounts of Bitcoin (or other cryptocurrencies) to compromise the privacy of wallets.

BTC trades at $29,353 after recovering from $27,000 | Source: BTC/USD price chart via tradeview.com

advanced blockchain tracker, whale alerttrack The deal was reported on Twitter as:

Sleep address containing 1,000 #BTC ($30,395,186) just activated after 8.5 years ($468,643 value in 2013)!

chair also Sure Another wallet, which has been dormant since 2012, finally moved 500 bitcoins on Thursday. 1 Bitcoin was first deposited on April 5, 2012. On June 3 of the same year, another 499 bitcoins were added to the wallet. The price of Bitcoin at the time was only $5.25 per coin.

During this period, however, the wallet received a small amount of BTC, which appears to be a dusting transaction used by scammers to conduct dusting attacks.

Comments and Contributions by Satoshi Nakamoto

Bitcoin’s creator has been silent for years, but people still think they know who it is. As a result, transactions from long-dormant wallets often attract media interest. Because they speculated that BTC might be owned by Satoshi Nakamoto, the secretive creator of Bitcoin.

Nakamoto launched the genesis block on January 3, 2009. Since then, it has managed to mine nearly 1,000,000 BTC, according to the assessment of blockchain analysts.

Related reading | Investors Flock to Stablecoin Hill as USDT Volume Hits All-Time High

Satoshi Nakamoto confirmed appearance On the Internet in December 2010, when the client software version of the Bitcoin network was 0.3.19, now Bitcoin’s Version is 22.0.

Bitcoin has been showing high volatility over the past few months; from $36,000 a week ago, it fell to $25,401 last Thursday.

Bitcoin is currently recovering from a market-wide decline. As of this writing, it has gained 13.5% in value from this year’s low to trade at $29,353.

                   Featured image from Pixabay, and the chart from Tradingview.com



Source link