Ancient Bitcoin Whale Comes Alive, Moves $37,854,468 in BTC at 13,435% Profit

A Bitcoin (BTC) whale that has lain low for slightly over a decade is suddenly coming alive, according to on-chain data.

Blockchain tracker Lookonchain says that the long-dormant address has moved 1,432 Bitcoin after lying low since April 2013.

“A BTC whale that has been dormant for 10.2 years transferred all 1,432.93 BTC (worth approximately $37.8 million) to a new address ‘bc1psv’ five minutes ago. The whale received 1,432.92 BTC on April 9th, 2013, when the price was $195.4.”

Source: Lookonchain/Twitter

With Bitcoin trading at $26,447 at time of writing, the hitherto dormant BTC has appreciated by 13,435% over the ten-year period.

During the ten years and two months that the wallet was dormant, minuscule amounts of Bitcoin were sent to the address, an indication of possible dusting attacks. Dusting attacks are usually attempts to identify the owner of the address and are typically perpetrated by malicious actors intending to carry out phishing attacks, extortion and other cyber crimes.

Good actors such as academic researchers and law enforcement could also carry out dusting attacks for non-malicious reasons.

Long-dormant wallets attract attention and interest due to the possibility that they could belong, or be linked to, Satoshi Nakamoto, the pseudonymous creator of Bitcoin whose online trail went cold in December of 2010.

Satoshis wallet or wallets are thought to contain a vast fortune, possibly over one million Bitcoin, according to blockchain researcher Sergio Lerner.

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Featured Image: Shutterstock/Hoika Mikhail

This article was originally reported on The Daily Hodl.