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Cryptocurrency News Articles
Dormant Bitcoin Addresses From 2017 Continue to Come Alive
Jul 30, 2024 at 10:30 am
Earlier today, Bitcoin.com News reported a transaction involving a BTC wallet that transferred 210 BTC from an address established on July 27, 2017.
A sleeping bitcoin address from 2017 has been reactivated, transferring 777.91 BTC ($52 million). The wallet, created on April 9, 2017, moved the funds 35 blocks after another old wallet was used to transfer 121.63 BTC.
The stash, now valued at $52 million, was acquired for around $923,379 when BTC was trading at $1,187 per coin. The user paid 17,114 satoshis per virtual byte (sat/vB) to transfer the funds, while most were paying between 5 to 136 sat/vB at that time.
Blockchair’s privacy tool gave the transaction a rating of 0 out of 100, highlighting three critical privacy concerns. About 712.91 BTC was sent to an unknown address, and 65 BTC was sent to another wallet.
The larger sum was consolidated into a Pay-to-Public-Key-Hash (P2PKH) legacy wallet, while the smaller sum went to a Pay-to-Witness-Public-Key-Hash (P2WPKH) address. Both amounts remain in the new wallets at the present time.
Before this transaction, 759.03 BTC had been sent from dormant 2017 wallets in July, bringing the total to 1,536.94 BTC that was moved for the first time in seven years. At current exchange rates, this value is $103.25 million.
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