A Bitcoin (BTC) wallet that has enjoyed more than a decade of dormancy suddenly sprang to life earlier this week.
According to Bitcoin explorer BitInfoCharts, the whale moved 2,186 BTC worth approximately $207.51 million at the time of the transaction to another wallet.
The long-dormant wallet initially received the stash of Bitcoin in July of 2013 when BTC was trading at $85. At the time of the transaction earlier this week, Bitcoin was trading at $94,929, representing a price gain of around 111,581% over the period of around 142 months.
The long-dormant whale also moved a smaller stash of Bitcoin, alongside the older trove. The smaller stash was deposited into the wallet on two diverse dates in 2014.
In March of 2014, the wallet received 82 BTC when the crypto king was trading at approximately $612. The wallet also received 75 BTC in November of 2014 when Bitcoin was trading at approximately $377.
During the period of dormancy, the wallet also received trace amounts of Bitcoin, an indication that the whale could have been a victim of dusting attacks. Dusting attacks are usually conducted with the goal of deanonymizing a cryptocurrency user.
This is done by sending tiny amounts of Bitcoin to an address to build a profile of the user’s holdings and their transaction activities with the eventual goal of linking the address to a real-world identity. Dusting attacks can be conducted by academics, cybersecurity researchers, law enforcement or even scammers.
Bitcoin is trading at $100,405 at time of writing.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney
