Tens of Millions Unlocked: Dormant Bitcoin Wallets Awaken After 16 Years

A cluster of long-dormant Bitcoin wallets has awakened after more than 16 years, and their contents are now worth tens of millions. The transfer involved 600 BTC spread across 12 addresses, each holding a 50-BTC reward from a separate block mined in March 2010.

According to onchain monitor Lookonchain, seven of the wallets were initially flagged, moving 350 BTC. Whale Alert then tracked the fuller move across all twelve addresses. As of now, there's no confirmation of where the coins ultimately landed.

The coins were essentially worthless when they were created in March 2010, as Bitcoin had no meaningful market price at that time. However, with Bitcoin trading near $76,400 today, the stash is worth roughly $46 million, an almost incomprehensible return on coins that were free to mine.