A bitcoin wallet dormant since 2013 moved $31 million, and it's not the only one
A dormant Bitcoin wallet moved $31 million in assets, coinciding with a surge in old-coin movement following a security vulnerability in Coldcard hardware wallets. Analysts suggest the activity may be a precautionary measure by users concerned about self-custody security.
Why it matters
Large-scale movements of dormant cryptocurrency can signal shifts in market confidence and highlight the risks associated with hardware wallet security.
The wallet labeled 18TExP, dormant since 2013, moved 500 BTC, worth $31.3 million, in a transaction first flagged by on-chain tracker Whale Alert . The coins were worth roughly $500,000 when they last moved, 12.7 years ago.
Coins moving from one wallet to another doesn't, on its own, reveal anything, except that someone holding a decade-old private key decided it was time to move.
And the timing is interesting. The reactivation happened in the middle of an unfolding security crisis around Coldcard, a popular Bitcoin-only hardware wallet, and it’s being read as a security move.
“Wallet 18TExP, holding 500 BTC($31.27M), transferred all 500 BTC to a new wallet 1 hour ago after over 12 years of inactivity. The owner may have moved the funds to a new wallet due to security concerns following the Coldcard hack,” blockchain sleuth Lookonchain said on X .
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in