Skip to main content

50 Dormant Bitcoins Worth $1.25 Million Wake Up After 12-Year Slumber

50 Dormant Bitcoins Worth $1.25 Million Wake Up After 12-Year Slumber

A dormant Bitcoin address holding 50 Bitcoin, valued at approximately $1.25 million, suddenly sprang to life on June 15 after being inactive since June 21, 2010. This month has seen only one 2010 block reward transfer, with the previous two taking place on May 22, 2023.

$1.25 Million in Bitcoin Moves After a Decade of Inactivity; 2023 Sees 6 Block Rewards From 2010 Spent

Although Bitcoin’s price has dipped by 7.5% this month, the address, established on June 21, 2010, opted to move its entire 50 BTC balance worth $1.25 million — the first such activity in over 12 years. Nowadays, transfers of 2010 block rewards are relatively rare and were more prevalent when the cryptocurrency’s value was twice its current size. Blockchain parser Btcparser.com caught the movement of the entire balance from the “13CFn” address.

Interestingly, data reveals that the owner didn’t spend the associated bitcoin cash (BCH) that is tied to the funds. The last ‘sleeping bitcoin’ transfers from 2010 happened 24 days prior on May 22, 2023. On that day, two block rewards amounting to a total of 100 BTC were moved. In April, a single block reward from 2010 was shifted without being detected by parsers due to an earlier dust transaction. Before April’s transfer, a separate transaction involving a 50 BTC block reward occurred on March 20, 202

In February 2023, a single block reward from 2010 was transferred. January did not see any transfers involving funds from that year. According to Blockchair.com’s privacy tool, the recent transfer of a block reward dating back to scored a “low” rating for privacy — a mere five points — with several identifiable issues in leakage such as a “sweep,” “same address in inputs,” and “various input types.”

The entirety of this BTC balance was transferred to one address before reaching another wallet, and then it finally split into two addresses holding 23.11 BTC and 26.88 BTC, respectively. In total, 2023 has seen six block reward transfers from the 2010 era — all after more than a decade of inactivity.

What do you think prompted the sudden activity of these long-dormant bitcoins? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/g3QmSDM

Comments

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...

Seven UK Companies Form Cryptocurrency Trade Body

Seven major crypto companies operating in the UK have announced the formation an independent cryptocurrency trade body. The group, Crypto UK, has stated that its principal aim is to “improve industry standards and engage policymakers.” Also Read:   Independent Ratings Agency Alerts Investors About Dangers of Tether Leading Cryptocurrency Companies form Crypto UK Trade Body Seven leading cryptocurrency companies operating the UK have formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry, in addition to “engag[ing] policymakers.” The members of Crypto UK are Coinbase, Etoro, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare – comprising trading platforms, exchanges, asset managers, merchants, comparison websites, and intermediaries from the cryptocurrency sector. “Regulation is Imminent” The Crypto UK chairman and managing director of Etoro, Iqbal Gandham, described the trade body’s mission as “promot[in...

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...