A deep-pocketed investor who owns a long-dormant Bitcoin wallet just moved 1,000 BTC after nearly a dozen years of inactivity.
The crypto tracker Whale Alert notes that the old wallet moved 998.73 BTC to one on Sunday address and 1,263 BTC another.
The whale collected the 1,000 Bitcoin pile in September 2012, when the total was worth just $12,223, according to BitInfoCharts.
With BTC trading at $64,682 at the time of writing, that treasure is now worth over $64.7 million, a staggering increase of almost 530,000%.
The long-dormant wallet spotted by Whale Alert has received trace amounts of Bitcoin a few times over the past dozen years, though these transactions appear to be the result of dusting attacks.
Dusting attacks involve hackers and scammers sending minuscule amounts of cryptocurrency (dust) to a large number of personal wallets in an attempt to breach the privacy of wallet holders.
The scammers then attempt to track the transactional activity of targeted wallets to identify the people or companies behind them. Once the wallet owner is exposed, threat actors use various strategies to rob the person, including cyber extortion and phishing.
Sunday’s transaction isn’t the only recent move by old whales. Last Friday, a crypto wallet containing 25 BTC worth $1.43 million was activated after more than a decade of dormancy.
And on July 9, Whale Alert spotted a wallet containing 24 BTC worth $1.44 million, which was activated after more than 11 years of dormancy.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: DALLE3