Decade-Old Bitcoin Wallets Suddenly Move $40M

A batch of six Bitcoin wallets that had been dormant for over a decade suddenly moved a combined $40.15 million in one week, according to Galaxy Research.

The oldest coins in the batch were bought for pocket change in mid-2011 and are now worth over $538,000, representing a gain of 461,981% since their initial purchase.

Two of the wallets carry labels tied to the pseudonymous plaintiff Noah Doe, who is suing to claim 39,069 dormant Bitcoin addresses as abandoned property under New York's lost-property statute.

The sudden movement of these ancient wallets has sparked speculation about what might have triggered it. Some attribute it to the ongoing lawsuit, while others suggest it could be a result of paranoia following the recent Coldcard hardware wallet exploit.