Key facts
- A Bitcoin wallet dormant since 2011 moved nearly 50 BTC, now valued at approximately $3.2 million.
- The wallet originally received 49.97 BTC in July 2011 when Bitcoin traded around $10.
- The BTC was transferred to a SegWit address (starting with 'bc1') on August 6.
- The destination address has previously sent funds to FalconX and received funds from Nexo and Prime Trust.
- The moved BTC has not yet left the destination address.
- The transfer follows a recent exploit of Coldcard hardware wallets, prompting long-term holders to review their storage.
A Bitcoin wallet that had been inactive since 2011 moved nearly 50 BTC, now valued at approximately $3.2 million, on Thursday. The coins were sent to a SegWit address that has previously facilitated transactions with institutional crypto brokerage FalconX, as well as receiving funds from Nexo and Prime Trust.
The wallet received 49.97 BTC in July 2011 when Bitcoin was trading around $10. The transfer, part of block 961331, involved combining inputs from the dormant address and sending 50 BTC to a 'bc1' address, with a small amount returned as fees.
Analysis of the destination address shows it has previously sent funds to wallets labeled as FalconX deposits and received funds from wallets associated with Nexo and Prime Trust. As of Friday morning, the newly transferred 50 BTC remained in this address, with no on-chain evidence indicating it has been sold or moved to FalconX yet.
This movement occurs amidst heightened security concerns in the crypto community following a significant exploit of Coldcard hardware wallets. While there is no direct evidence linking the 2011 wallet to the Coldcard vulnerability, the incident has prompted long-term holders to re-evaluate their older storage solutions.