A mysterious Bitcoin (BTC) whale that had been dormant for over a decade suddenly moved a large amount of BTC to a new address.
According to Whale Alert, a blockchain tracking and analytics service, an address holding approximately 1,037 BTC ($31 million at current prices) was activated on July 22, 2023, after 11 years of inactivity.
The address was last active on April 11, 2012, when it received 1,037.42 BTC from another address. At that time, the price of Bitcoin was only $4.92, so whale bought the coins for just over $5,000.
The source of the funds is unclear, but some analysts think it may have belonged to hackers who stole Bitcoin from various sources in the past.
The whale's address can be tracked as the receiving address of very small amounts of BTC from 2015 to 2021; During that time, more than 40,000 BTC had been distributed to hundreds of addresses in a complex scheme to avoid detection.
*Not investment advice.
