After lying dormant for 13 years, an old Bitcoin wallet has suddenly moved over $2.1 million worth of BTC. Crypto tracking service Whale Alert reported that the wallet transferred 33.99 BTC to two different addresses. This transaction marks the wallet’s first significant activity since June 18, 2011, back when the same amount of Bitcoin was valued at only $584.
Such activity from long-inactive wallets often garners media attention, sparking speculation that the Bitcoin might belong to its enigmatic creator, Satoshi Nakamoto. Blockchain experts estimate that Nakamoto mined around one million BTC, beginning with the initial 50 BTC reward for the genesis block on January 3, 2009. Nakamoto ceased involvement with the Bitcoin project in mid-2011.
The last verified digital presence of Satoshi was in December 2010 on the BitcoinTalk forum, where the pseudonymous creator discussed a Bitcoin software update aimed at preventing denial-of-service attacks.
Interestingly, the dormant wallet identified by Whale Alert has received small amounts of Bitcoin sporadically over the past 13 years. These transactions are believed to be the result of dusting attacks, where hackers and scammers send tiny amounts of cryptocurrency (dust) to numerous wallets in an attempt to breach the privacy of wallet holders. The perpetrators then try to trace the transaction activities of these wallets to uncover the identities of their owners.
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Disclaimer: Opinions expressed by The Daily Hodl are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Any transactions you make are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and is not an investment advisor. Note that The Daily Hodl participates in affiliate marketing.
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