Mysterious Bitcoin Wallet Sends $1 Million Round Trip, Then Burns Millions
A mysterious Bitcoin wallet has been sending and receiving large sums of cryptocurrency over the past few years. In March, $1 million worth of BTC was moved through a large crypto custodian, only to be returned almost exactly three weeks later.
The same wallet had been dormant for nearly 12 years before it suddenly sprang back to life, sending 20.00010537 BTC to 'a custodian of some kind' before receiving it back again (minus $3 or so).
'The whole balance went out to what looks like an exchange hot wallet, and almost exactly the same amount came back three weeks later,' said Bitcoin educator Bennet.
Seven weeks after that, the BTC was deliberately destroyed. This is part of a wider enigma surrounding 107 BTC burned in May, worth roughly $8.5 million at the time.