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Over the past ten days, starting from August 16, activity was recorded in six dormant addresses holding large amounts of Bitcoin. The owners of these addresses transferred a total of 553.59 BTC, valued at $40.15 million. These transactions were tracked by analysts at Galaxy Research.
The first address was activated on August 16. It held 8.54 BTC that had remained inactive for 15 years, since June 13, 2011. At that time, an unknown investor purchased these coins at a price of $14 each. Their value has since increased by 461,981%, reaching $538,000.
AWAKENED — dormant 15+ years
8.54 BTC ($538K) untouched since first received 2011-06-13 (15.1y ago) — just moved in block 962770
Address: 1EmiMJfyBYNYfeFZWEoXxJ9cZ7pF9xTWVt
Realized PnL: +$538K (+461,981% gain) – basis ~$14 avg – held 15.1y
2026-08-16 18:42 UTC
TXID:…
— Galaxy Research (@glxyresearch) August 17, 2026
Two days later, 212 BTC were transferred from an address that had been unused for nearly 14 years (since August 10, 2012). At the time of the transaction, the coins were worth $13.66 million. With an initial cost of $12, the return would be 557,640% if the owner decided to sell the Bitcoin. The address is tagged as Noah Doe #1396 · Salomon Client Dusted, indicating its connection to a lawsuit in New York. Previously, an anonymous plaintiff requested that the New York Supreme Court declare 39,069 inactive Bitcoin addresses as abandoned property under the state’s escheat law.
Awakened — dormant 14+ years
212.00 BTC ($13.66M) untouched since first received 2012-08-10 (14.0y ago) — just moved in block 963074
Address: 113CeqQ1KYsWFqYMcFy9qFunZmCF7XfoQw
Sender Attribution: Noah Doe #1396 · Salomon Client Dusted
Realized PnL: +$13.66M (+557,640%…
— Galaxy Research (@glxyresearch) August 18, 2026
Later, Galaxy Research analysts discovered an address that had moved for the first time since June 17, 2011. A total of 10.74 BTC were transferred from the wallet, with a current value of $692,000.
AWAKENED — dormant 15+ years
10.74 BTC ($692K) untouched since first received 2011-06-17 (15.1y ago) — just moved in block 963093
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Address: 1HNb3tgn8TzgdViA5GNG6B1KjRLCcve3V5
Realized PnL: +$692K (+488,674% gain) – basis ~$13 avg – held 15.1y
2026-08-18 20:30 UTC
TXID:…
— Galaxy Research (@glxyresearch) August 18, 2026
On August 22, two more transactions from old Bitcoin wallets occurred at intervals of approximately two hours. Galaxy Research recorded a transfer of 150 BTC valued at $11.75 million from an address that had not been used since December 26, 2014. If the owner decides to sell these Bitcoin, the profit would be 23,701% of the purchase price. This address is also tagged as Noah Doe #1680, confirming its link to the New York lawsuit.
Awakened — dormant 11+ years
150.00 BTC ($11.75M) untouched since first received 2014-12-26 (11.7y ago) — just moved in block 963508
Address: 1Bqw6CozkdEB3byjWSBNgoLZWmuomUaG7G
Sender Attribution: Noah Doe #1680
Realized PnL: +$11.70M (+23,701% gain) – basis ~$329 avg -…
— Galaxy Research (@glxyresearch) August 22, 2026
The fifth address transferred 132.31 BTC valued at $10.37 million. The sixth address activated on Thursday, August 27, and transferred 40 BTC that had not moved since May 28, 2012 (over 14 years). The recipient of the transaction was Boerse Stuttgart Digital, a German bank specializing in cryptocurrency custody. With an initial cost of approximately $5 per coin, the potential profit upon sale would be 1,535,911% — the highest return rate among all six addresses noted by Galaxy Research.
Awakened — dormant 14+ years
40.00 BTC ($3.14M) untouched since first received 2012-05-28 (14.2y ago) — just moved in block 964127
Address: 1MZX6ExdDzWefGbD6Dc4bShdBRoNA3ijLF
Sender Attribution: none in our DB
Recipient Attribution: Boerse Stuttgart Digital
Realized PnL:…
— Galaxy Research (@glxyresearch) August 26, 2026
Earlier in August, Lookonchain analysts discovered a Bitcoin wallet that had been unused since 2013. Its owner transferred 500 BTC, worth approximately $31.3 million, to a new address. Analysts suggest that the surge in activity from old addresses is linked to hacks of Coldcard hardware wallets, causing crypto asset owners to mass-transfer funds to new wallets.
