Dormant Bitcoin Whale Moves 75 BTC for First Time in 15 Years

Summary

• A Bitcoin wallet that had been inactive for roughly 15 years transferred all 75 Bitcoin it held to a new address.
• The wallet is one of the defendant addresses in a roughly $260 billion lawsuit, which argues that wallets with no transactions for more than five years should be treated as abandoned property.
• CoinDesk said the transaction shows control of the Bitcoin in the wallet still exists and could counter a central claim in the lawsuit.

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A Bitcoin wallet that had been inactive since 2011 moved 75 Bitcoin for the first time in roughly 15 years.

CoinDesk reported on November 14 that all 75 Bitcoin, worth about $5 million, were transferred from the wallet to a new address on November 12. It was the first movement from the wallet since 2011.

The wallet is also one of the addresses named as defendants in a roughly $260 billion Bitcoin ownership lawsuit recently filed in New York. The plaintiffs argue that Bitcoin wallets with no transactions for more than five years should be treated as abandoned property and are seeking ownership of the Bitcoin held in those wallets.

It was not clear who controlled the wallet that made the transfer or whether the lawsuit influenced the movement of funds. CoinDesk said the transaction shows that someone still controls the Bitcoin in the wallet, potentially undercutting a central claim in the lawsuit that long-dormant wallets should be treated as ownerless property.

Uk Jin