Dormant address containing $6.8 million in bitcoin wakes up after more than 12 years

A dormant Bitcoin wallet address containing 119 BTC transferred funds for the first time in more than 12 years on Thursday morning, according to onchain data.

The remaining 43 BTC were sent from the address at 8:55 a.m. UTC, though the transaction remains unconfirmed at the time of writing. The reason for the transfer remains unknown, as does the identity of the wallet's ownership. However, onchain data indicates the owner is reconsolidating the 119 BTC at a single new address, and given the same transfer amounts and proximity of the transactions, there is a reasonable likelihood that the bitcoin still belongs to the same entity.

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