Dormant Bitcoin Address Awakens After 12 Years, Moves $35 Million

A wallet inactive for nearly 12 years has transferred all its 500 BTC, valued at almost $35 million, to several new addresses. This activity was noted by Lookonchain.

A wallet that had been dormant for 11.7 years transferred all 500 $BTC($34.78M) to multiple new wallets.

This wallet received 500 $BTC($3,786 at the time) on Jul 14, 2012, when the price of $BTC was only $7.57.

Address:
1LUDXsAT6fQypinRbqVKatMiAbv6o9HjBc pic.twitter.com/zP3A3GlQHT

— Lookonchain (@lookonchain) March 30, 2024

The user acquired the first cryptocurrency on July 14, 2012, at a price of $7.57, resulting in an unrealized profit of approximately 925,000%.

Earlier in March, an unknown individual sold 1,000 BTC mined in 2010, earning about $68 million.

In the same month, a group of 80 wallets, dormant for eight years, moved 2,352.62 BTC worth over $163 million.

As reported in January, analysts at CryptoQuant noted the movement of 49,866 BTC that had been “asleep” for more than five years. However, the coins were not sent to an exchange.