In a surprising turn of events, a Bitcoin whale that had remained dormant for over a decade has sprung back to life, as revealed by on-chain data.
Lookonchain, a blockchain tracker, reported that the long-inactive address recently moved a staggering 1,432 Bitcoin, ending its slumber since April 2013.
A BTC whale that has been dormant for 10.2 years transferred all 1,432.93 $BTC($37.8M) to a new address"bc1psv" 5 mins ago.
— Lookonchain (@lookonchain) June 8, 2023
Significant Appreciation in Value
The transfer, which took place just five minutes ago, involved the movement of approximately $37.8 million worth of BTC to a new address named ‘bc1psv.’ Interestingly, the same whale had received 1,432.92 BTC back on April 9th, 2013, when the cryptocurrency was valued at $195.4.
The substantial increase in Bitcoin’s price over the past decade means that the previously dormant BTC has appreciated by an astonishing 13,435%. With Bitcoin currently trading at $26,447, this unexpected awakening has drawn significant attention from the crypto community.
Possible Dusting Attacks Detected
During the lengthy period of dormancy, the wallet in question received only marginal amounts of Bitcoin, hinting at the possibility of dusting attacks. Such attacks are commonly carried out by malicious actors seeking to uncover the address owner’s identity and are often associated with phishing attempts, extortion, and other cyber crimes.
However, it is worth noting that legitimate entities like academic researchers and law enforcement agencies may also perform dusting attacks for non-malicious purposes.
Speculation Surrounds the Wallet’s Origin
The revival of long-dormant wallets consistently generates interest and speculation, primarily due to the potential association with Satoshi Nakamoto, the enigmatic creator of Bitcoin who vanished from the online realm in December 2010.
According to esteemed blockchain researcher Sergio Lerner, it is believed that Satoshi’s wallets could harbor a massive fortune, potentially exceeding one million Bitcoin.
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