ChainCatcher report: Galaxy Research tracking data 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 Boerse Stuttgart Digital, a German crypto custody bank, yielding a return of over 1.53 million times. Two of the six wallets are labeled "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, recent panic-driven transfers triggered by a vulnerability in Coldcard hardware wallets are also considered a possible reason for the reactivation of these old wallets.
Six dormant Bitcoin wallets worth $40 million were moved in one week.
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Summary
Six dormant Bitcoin wallets worth $40 million moved between August 16 and 26, according to Galaxy Research. The wallets, inactive since 2011–2014, transferred 553.59 BTC. One wallet sent 40 BTC to Boerse Stuttgart Digital, yielding a 1.53 million times return. Two wallets linked to Noah Doe’s lawsuit in the New York Supreme Court were labeled "Salomon Client Dusted." The recent Coldcard vulnerability may have triggered the movement. With anticipation surrounding Bitcoin ETF approval, spot Bitcoin ETF applications remain a focal point for market participants.
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