Ancient Bitcoin Whale Abruptly Awakens, Relocates 1000 BTC After Nearly 12 Years of Dormancy
A deep-pocketed investor owning a long-dormant Bitcoin wallet just moved 1000 BTC after nearly 12 years of dormancy.
The crypto tracker Whale Alert notes that the ancient wallet on Sunday moved 998.73 BTC to one address and 1.263 BTC to another.
The whale accumulated the 1,000 Bitcoin stack back in September 2012, when the total was worth only $12,223, according to BitInfoCharts.
With BTC trading at $64,682 at time of writing, that trove is now worth more than $64.7 million, a staggering increase of nearly 530,000%.
The long-dormant wallet spotted by Whale Alert has received trace amounts of Bitcoin a handful of times over the last 12 years, though those transactions appear to be the result of dusting attacks.
Dusting attacks involve hackers and scammers sending minuscule amounts of cryptocurrency (dust) to a large number of personal wallets in an attempt to break the wallet holders’ privacy.
The scammers subsequently try to trace the transactional activity of targeted wallets in order to identify the people or companies behind them. Once the wallet’s owner is unmasked, threat actors use various strategies to rob the person including cyber-extortion and phishing scams.
Sunday’s transaction isn’t the only recent movement from ancient whales. Last Friday, a crypto wallet containing 25 BTC worth $1.43 million was activated after more than 10 years of slumber.
And on July 9th, Whale Alert spotted a wallet containing 24 BTC worth $1.44 million being activated after more than 11 years of dormancy.
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