A Bitcoin whale that has been inactive for a decade has suddenly surfaced, transferring 279 bitcoins, which is worth $7.8 million, to three fresh addresses in a single day. According to Lookonchain, an on-chain analyst, the wallet that received the transfer has also received 1,12...
A Bitcoin whale that has been inactive for a decade has suddenly surfaced, transferring 279 bitcoins, which is worth $7.8 million, to three fresh addresses in a single day.
According to Lookonchain, an on-chain analyst, the wallet that received the transfer has also received 1,128 Bitcoins in the past in October 2012 and May 2013. The price of bitcoin during those transfers was approximately $12 and $195, respectively.
A whale with 1,128 $BTC($31.6M) that has been dormant for 10 years transferred 279 $BTC($7.8M) to 3 new addresses just now.The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.https://t.co/2MxnVzcEMl pic.twitter.com/2GM7Oq4e2P— Lookonchain (@lookonchain) April 21, 2023
This transfer comes just a day after another inactive bitcoin whale transferred 2,071.5 BTC, worth $60.7 million, after nine years of dormancy.
While the motivation behind these transactions remains unclear, there is growing speculation that long-time cryptocurrency holders are moving their funds to new wallets due to a possible wallet-draining operation targeting old wallets.
For the past 48hrs I've been unwinding a massive wallet draining operationI don't know how big it is but since Dec 2022 it's drained 5000+ ETH and ??? in tokens / NFTs / coins across 11+ chains.
Its rekt my friends & OGs who are reasonably secure.
No one knows how. pic.twitter.com/MafntG7RkP— Tay(@tayvano_) April 18, 2023
In other Bitcoin news, earlier this month marked the deadline for Mt. Gox creditors to provide their repayment information, opening the window for repayments to be made by October 31, 2023.
Mt. Gox is preparing to distribute an unknown portion of the 142,000 BTC ($3.9 billion), 143,000 BCH ($17.9 million), and 69 billion Japanese yen ($523 million) that it holds via payments made in Bitcoin, Bitcoin Cash, and fiat.
Despite the news, the Bitcoin price has declined by more than 2% over the past 24 hours, currently resting at above $28,100.