Sleeping Bitcoin Wallets Awake: Over $14 Million in BTC Moved From Long-Inactive Addresses

Based on the latest onchain data, on Jan. 27, 2024, a wallet established on Aug. 28, 2013, transferred 115.50 bitcoin valued at $4.84 million, marking its first activity in more than a decade. Furthermore, two dormant accounts from 2017 also executed transactions on Saturday, moving a total of 218.49 bitcoin, equivalent to $9.16 million.

Inactive Bitcoin Holdings Stir — $14 Million Transacted from 2013 and 2017 Wallets

This past weekend witnessed the movement of 333.99 BTC, valued at $14 million based on current bitcoin exchange rates, after remaining untouched for several years. The first transaction originated from a wallet created on May 2, 2017, exactly six years and eight months prior, involving a transfer of 125 BTC. This activity was first detected by btcparser.com.

Furthermore, Blockchair’s Privacy-o-Meter, assessing transaction traceability through diverse tracking methods, assigned this transfer a score of 3 out of 100, indicating a “critical” level. For example, the transaction involved identifiable matched addresses. The second transaction originated from an older wallet, established a decade and four months ago on August 28, 2013. This wallet, known as “1NJSa,” executed a movement of 115.50 BTC and received a privacy score of 45 out of 100, classified as a “low” privacy rating.

The final transaction on Saturday traced back to February 23, 2017, when the wallet was created. This wallet, labeled “1HmbW,” dispersed 93.49 BTC at block height 827,676, after lying dormant for six years and 11 months. It garnered the same privacy score as the 2013 transaction, a “low” 45 out of 100, due to matched addresses being identified.

January 2024 has observed a subdued beginning in terms of activity for so-called ‘sleeping bitcoin’ and particularly for addresses from the 2011 and 2010 period. This month saw two movements from 2010, including a minuscule dust transaction of 0.00000547 BTC and another dispersal of 50 BTC from a 2010 block reward. Additionally, 95 BTC were moved in four separate transactions from addresses originating in 2011. Meanwhile, only two transactions from 2012 ‘sleeping bitcoins’ were noted, totaling 20 BTC across both onchain activities.

What are your thoughts on the dormant bitcoin wallets from 2013 and 2017 waking up this weekend? Share your thoughts and opinions about this subject in the comments section below.

Leave a Reply

Your email address will not be published. Required fields are marked *