A Bitcoin wallet, dormant for 12 years, worth approximately $44.29 million recently became active on Sunday. This movement was noted by blockchain analytics platform Lookonchain, citing Arkham Intelligence data to show the Bitcoin (BTC) transferred to multiple new wallets.
According to Arkham Intelligence, the wallet address “1ArUG…waWT” transferred around 400 BTC. The funds were transferred in almost consistent batches of 15 BTC, leaving the address empty.
Lookonchain also reported that the receiving wallet was funded by miners 15 years ago but the identity of the wallet’s owner and the reason for the transfer remain unknown.
Similar dormant wallet activity
The activity comes after BTC price increased by approximately 830% during the wallet’s 12 years of inactivity, with the price rising from around $135 to $112k. This is one of several recent instances of “Satoshi-era” wallets becoming active after years of dormancy, with analysts suggesting that these movements may be attempts by long-term holders to liquidate profits.
In early September, a group of Bitcoin wallets from the early days of the network moved funds after over 15 years. Each of the five wallets received 50 BTC in 2010 as a block reward.
Another recent instance from July includes a dormant Bitcoin whale from the Satoshi era, holding 80,009 Bitcoin since 2011, moving over $1.18 billion worth of Bitcoin to major exchanges like Binance, Bybit, Bitstamp, Coinbase, and OKX.
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