Nearly $32 Million in ‘Dormant’ Bitcoin Moves After Coldcard Hack Reaches Estimated $130M

Bitcoin Magazine

Nearly $32 Million in ‘Dormant’ Bitcoin Moves After Coldcard Hack Reaches Estimated $130M 

The whales are on the move. An O.G. Bitcoin address holding 500 coins — worth $31.8 million at today’s prices — shifted its stash on Tuesday after not budging for 12 years.

Blockchain data shows that the legacy Bitcoin address moved all the funds in one go, paying just 191 sats, or $0.12, in transaction fees.

First flagged by Lookonchain on X, the address piqued Bitcoiners’ interest due to the recent wallet drainage happening with Coldcards, with some speculating that the HODLer moved the funds to a safer place.

Hackers last week started taking over $35 million in Bitcoin from wallets after discovering a vulnerability in the Coldcard wallet product software.

Now, the amount drained could stand at $130 million, according to Galaxy Research, which said Monday that it was investigating a fourth wave of attacks.

Bitcoin that sits still for so many years is often attributed to lost coins — amateur investors often forget the private keys to their digital wallet.

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