Two long-dormant Bitcoin whales sprang to life this week and moved $11 million worth of BTC after sitting on the top crypto asset for more than a decade.
The crypto tracker Whale Alert notes the first address moved 174 BTC worth $10.16 million to another unknown wallet early Friday morning.
The whale hadn’t touched the Bitcoin since it received it in January 2014, when that same trove was worth $142,600. The value of the whale’s holdings grew by more than 7,000% over 10 years.
The long-dormant address has received trace amounts of Bitcoin a handful of times over the last decade, though those transactions appear to be the result of dusting attacks.
Dusting attacks involve hackers and scammers sending minuscule amounts of a cryptocurrency (dust) to a large number of personal wallets in an attempt to break the wallet holders’ privacy.
The scammers then try to trace the transactional activity of targeted wallets in order to identify the people or companies behind them.
Whale Alert also notes that a separate address moved 18.67 BTC worth $1.09 million to Coinbase on Friday. The wallet had recorded zero transactions since it received the Bitcoin in April 2014, when that same amount was worth $9,204.
BTC is trading at $59,244 at time of writing and is up over 3% in the past 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney