A decade-long slumber has been broken as a long-dormant Bitcoin wallet has sprung back to life, making moves worth millions of dollars in the world’s leading cryptocurrency. Whale Alert, a platform that tracks large crypto transactions, has reported that an ancient BTC address that has been inactive for 11 years has suddenly become active, transferring a staggering 357 BTC valued at over $34 million.
The wallet, which had last seen activity in January 2014 when Bitcoin was priced at just $862, has seen a remarkable increase of 10,150% in value since then. BitInfoCharts data reveals that the wallet received small amounts of BTC multiple times in the past, but its recent awakening has raised eyebrows in the crypto community.
Interestingly, recent reports have shown that similar long-dormant whale wallets have been targeted by dusting attacks, where small amounts of cryptocurrency are sent to addresses to compromise their privacy and track transactional data. This resurgence of dormant wallets highlights the need for enhanced security measures in the crypto space to protect against such malicious activities.
As Bitcoin continues to trade at around $94,209, the resurgence of these long-dormant wallets serves as a reminder of the volatile nature of the cryptocurrency market. Investors and enthusiasts are advised to stay vigilant and keep a close eye on their digital assets to prevent any unauthorized access or malicious attacks.
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