A long-dormant Bitcoin (BTC) wallet has suddenly reawakened after a decade, moving millions of dollars worth of the top crypto assets by market capitalization.
According to new facts from whale tracking platform Whale Alert, an old BTC address that has been dormant for a decade has risen from its slumber and shifted approximately 357 BTC worth $34,070,177.
“A dormant address with 357 BTC ($34,070,177) has just been activated after 11.0 years!”
Data from blockchain tracker BitInfoCharts shows the wallet benefited as much as $33.7 million, or 10,150%, from Bitcoin’s rising price. BitInfoCharts also shows that the wallet has not been active since January 2014. At the time, the crypto king was valued at just $862.
The data also shows that the address has received small amounts of BTC several times during its existence.
Earlier this month, BitInfoCharts discovered that long-dormant crypto whale wallets were receiving trace amounts of BTC, likely due to dust attacks.
Dusting attacks occur when malicious actors send small amounts of crypto to addresses to violate their privacy, with their transaction data tracked to identify the individuals or companies behind them.
The key digital asset is trading at $94,209 at the time of writing, up fractionally over the past 24 hours.
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Generated image: Midjourney