According to ME News, data tracked by Galaxy Research shows that six Bitcoin wallets dormant since 2011, 2012, and 2014 transferred a total of 553.59 BTC between August 16 and 26, valued at approximately $40.15 million. The earliest coins were purchased in June 2011 at around $14 each, now worth over 460,000 times more; the most recent wallet transferred 40 BTC to the German crypto custody bank Boerse Stuttgart Digital, yielding a return of over 1.53 million times. Two of the six wallets carry the label "Salomon Client Dusted," linked to the pseudonymous plaintiff Noah Doe. Noah Doe filed a lawsuit in the New York Supreme Court seeking to have 39,069 dormant Bitcoin addresses declared abandoned property under the state’s unclaimed property law, serving notice by sending dust transactions to thousands of wallets. Additionally, panic-driven transfers triggered by the recent Coldcard hardware wallet vulnerability are also considered a possible reason for the reactivation of these old wallets. (Source: ChainCatcher)
Six Dormant Bitcoin Wallets Worth $40 Million Moved After More Than a Decade
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Summary
Six dormant Bitcoin wallets worth $40 million were activated between August 16 and 26, moving 553.59 BTC. The oldest coins date back to 2011, purchased at $14 each. One wallet sent 40 BTC to Boerse Stuttgart Digital, yielding a 1.53 million times return. Two wallets associated with Noah Doe are involved in a New York lawsuit over abandoned BTC. The Coldcard vulnerability may have triggered the movement. As BTC is increasingly viewed as a hedge against inflation and speculation grows surrounding Bitcoin ETF approval, long-dormant holdings are re-entering the market.
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