A deep-pocketed crypto holder who bought troves of Bitcoin (BTC) when the flagship digital asset was still trading for less than $30,000 made its first transaction in over a decade.
On-chain data shows that on Wednesday, the previously dormant crypto wallet moved 249.9 Bitcoin worth $13.94 million based on the cryptocurrency’s current price of $55,817.
The fee associated with the transaction was 0.0000461 BTC, or $2.57.
The transfer is the wallet’s first transaction since 2013. Back then, Bitcoin was worth just $29,245. Says blockchain tracker Whale Alert, which spotted and reported the transfer,
“A dormant address containing 250 BTC ($14,075,072 USD) has just been activated after 11.2 years (worth $29,245 USD in 2013)!”
Several other ancient and dormant Bitcoin whales are also recently showing signs of activity. Last month, a crypto wallet containing 1,000 Bitcoin purchased in September 2012 for just $12,223 also sprung to life after nearly 11 years.
But the whale has been receiving trace amounts of BTC over this period through what appears to be dusting attacks.
Scammers engaged in dusting attacks send small amounts of cryptocurrency called dust to wallets in an attempt to uncover the identity of the owner. The threat actors may then use the information to steal from the person such as through cyber extortion and phishing scams.
Generated Image: Midjourney