Numerous abandoned Bitcoin transactions created news and attracted the public’s attention in 2023. A sleeping bitcoin whale from 2017 awakened on Sunday night, spending an astonishing 1,177.89 BTC, or more than $30 million, from seven different bitcoin addresses after going dormant for just over six years. This is a huge development.
5 years later Litecoin network still working without a SINGLE GLITCH (as opposed to numerous top 10s) and Charlie Lee (rug pull man) still actively working on Litecoin without ever leaving the project. Satoshi Nakamoto “abandoned” Bitcoin with 1,000,000 $btc bag still intact.
— Cryptoso Ł Ⓜ️🕸 (@cryptoso) May 16, 2022
1,177 Bitcoin From 2017 Move for the First Time in Over 6 Years
Several dormant bitcoin wallets are reviving after long periods of inactivity as bitcoin (BTC) dances around the $26K mark. About seven different BTC addresses emerged from a six-year hibernation on Sunday between block heights 805,096 and 805,100. These addresses were created on July 30 and July 31, 2017, with six appearing on the last day of the month and one starting on July 30.
— Bitcoin News (@BTCTN) August 28, 2023
All seven transactions were detected by btcparser.com, with the first transaction coming from the address “1HjQx.” This once silent wallet sent 200 BTC, and “1LBpE” followed suit by sending 200 BTC in the same block. The coin owner, though, wasn’t done yet. At block height 805,100, five further transactions appeared, verifying The addresses included in this group were “16u25,” “1ByNy,” “1HXkT,” “1NZes,” and “1PftW.”
These transactions included five transfers that followed the 200 BTC pattern, one that sent 100 BTC, and another that sent 77.89 BTC. A single Bitcoin was worth $2,875 back on July 31, 2017, putting the owner’s first acquisition at a cool $3.38 million. After six years, the bitcoins have grown in value to $30.71 million, according to current BTC exchange measures.
On a privacy scale of 100, the 2017 transactions received a “moderate” 80-point grade from Blockchair. Both were compromised by two significant flaws, namely the “multiple occurrences of the same address in inputs.”
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— Dynasty End (@DynastyEnd) January 12, 2021
The total of 1,177.89 BTC was distributed to 17 different bitcoin addresses rather than being pooled into one account. The owner’s choice to transfer $30 million in BTC after five years is obscured by mystery. In addition, the sight of early players fumbling with large monetary amounts frequently baffles bystanders.