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Crypto News - Archive

After A 12-Year Slumber, 50 Dormant Bitcoins Worth $1.25 Million Awaken

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Category

Crypto News - Archive

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

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A Bitcoin address that had been idle since June 21, 2010, and contained 50 Bitcoin worth about $1.25 million, suddenly started sending transactions on June 15. Only one transfer of a 2010 block reward has occurred this month; the other two occurred on May 22, 2023.

After a Decade of Inactivity, $1.25 Million in Bitcoin Moves; 6 Block Rewards from 2010 Are Spent in 2023

The address, which was created on June 21, 2010, decided to shift its full 50 BTC balance, worth $1.25 million, despite the fact that the price of Bitcoin has fallen by 7.5% this month. This was the address’s first transaction in more than 12 years. Transfers of 2010 block rewards are now quite uncommon, compared to when the value of the coin was twice as large. Btcparser.com, a blockchain parser, observed the transfer of the entire balance from the “13CFn” address.

Data, however, show that the owner did not use the corresponding Bitcoin currency (BCH) that is linked to the money. The last sleeping Bitcoin transfers from 2010 took place on May 22, 2023, which was 24 days earlier. Two block rewards totaling 100 BTC were transferred on that day. Due to an earlier dust transaction, a single block reward from 2010 was switched in April without being seen by parsers. A separate transaction with a 50 BTC block reward took place on March 20, 2023, before the transfer in April.

A single block prize from 2010 was transferred in February 2023. There were no transfers involving money from that year in January. The most recent transfer of a block reward from 2010 received a “low” privacy rating from Blockchair.com’s privacy tool. Just five points, with multiple leakage problems that can be easily identified, including a “sweep,” “same address in inputs,” and “various input types.”

The whole balance of this wallet’s bitcoins was sent to one address before splitting into two addresses holding 23,11 and 26,88 bitcoins, respectively. After a combined total of more than ten years of idleness, six-block reward transfers from the 2010 timeframe have occurred in 2023.