Dormant Bitcoin Wallet Transfers $536.5 Million After 5 Years of Inactivity

A long-dormant Bitcoin whale wallet recently became active after over five and a half years, transferring over 8,000 BTC, valued at $536.5 million, from Coinbase cold storage.

The receiving Bitcoin wallet later transferred the received stash of BTC to another Binance Deposit address at a fee of $108. Unlike in many cases, the two transactions worth over $1 billion did not include any test ones.by blockchain analytics firm Arkham Intelligence, the dormant Coinbase cold storage wallet received the funds in small chunks of 200 BTC between October 5, 2018, and December 5, 2018.

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How Bitcoin Hackers Recovered $3 Million From Wallet Locked In 2013Davey is a four-decade veteran technology journalist and contributing editor at PC Pro magazine, a position he has held since the first issue was published in 1994. You can follow Davey on Mastodon, Twitter/X and most social networks as happygeek. Davey has spent more than 30 years as a freelance technology journalist.
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