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A deep-pocketed investor holding a long-dormant Bitcoin wallet has moved 1,000 BTC after nearly 12 years of inactivity.
Crypto tracker Whale Alert reported that on Sunday, the ancient wallet transferred 998.73 BTC to one address and 1.263 BTC to another.
According to BitInfoCharts, the whale accumulated this 1,000 BTC stack in September 2012, when the total value was approximately $12,223.
With Bitcoin trading at $64,682 at the time of writing, that holding is now worth more than $64.7 million, representing a staggering increase of nearly 530,000%.
Bitcoin Price Chart | Source: Coinstats
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The long-dormant wallet identified by Whale Alert received trace amounts of Bitcoin a few times over the past 12 years, though these transactions appear to be the result of dusting attacks.
Dusting attacks involve hackers and scammers sending minuscule amounts of cryptocurrency (dust) to a large number of personal wallets in an attempt to break the privacy of wallet holders.
Scammers subsequently attempt to trace the transactional activity of targeted wallets to identify the individuals or companies behind them. Once the wallet owner is identified, threat actors use various strategies to steal funds, including cyber-extortion and phishing scams.
Sunday’s transaction is not the only recent movement from ancient whales. Last Friday, a crypto wallet containing 25 BTC, worth $1.43 million, was activated after more than 10 years of dormancy.
Additionally, on July 9, Whale Alert spotted a wallet containing 24 BTC, worth $1.44 million, being activated after more than 11 years of inactivity.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
