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Dormant Bitcoin Wallets Reactivate Amid Coldcard Hack Fallout

Guavy AI Editorial Team
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BTC
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A dormant Bitcoin wallet that had not been active since 2013 has suddenly moved 500 BTC, worth approximately $31.3 million, in a transaction detected by on-chain tracker Whale Alert on August 3.

The funds, which were valued at around $500,000 when they last moved over 12 years ago, were transferred entirely to a new address.

On-chain analytics platform Lookonchain noted that the move may have been prompted by security concerns stemming from the hack of Coldcard, a popular Bitcoin-only hardware wallet.

The recent transfer is part of a growing pattern of dormant Bitcoin holders moving their coins amid deteriorating confidence in self-custody.

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