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More dormant Bitcoin moved as price hits $34,000

Bitcoin that was mined in 2010 has been moved from its original address to new wallets as the preeminent cryptocurrency continues to soar to new all time highs.

Dr. Kirill Kretov, a software developer and cryptocurrency trader working for LAZGroup in Switzerland, has once again identified more dormant BTC being moved from old wallets to new addresses. Kretov has previously provided The Daily Chain with analytics of previous old addresses moving dormant Bitcoin on a number of occasions in 2020.

Kretov is constantly on the look out for major movements of legacy Bitcoin mined in the immediate years after the cryptocurrency’s birth in 2009. He created a blockchain parser that monitors a list of wallets and major transactions, allowing him to flag interesting movements of BTC.

Two big moves see 1300 BTC moved

According to the developer, six different wallets were awakened containing Bitcoin mined in April 2010. A  total of 300 BTC was transferred to a new wallet.

Just an hour later, Kretov flagged an even bigger movement of Bitcoin as 20 different wallets that each contained 50 BTC mined in October 2010 had their holdings moved to a single address.

Like earlier movements of long-dormant Bitcoin, it is not clear who was responsible for moving the BTC or what their motives are. Kretov notes that this is the sixth major movement of dormant Bitcoin he’s noted over the past 12 months.

Kretov told The Daily Chain that the movement of the 1000 BTC also followed a similar pattern to the previous movements he’d highlighted last year.

“Regarding 1000, we can see the same pattern, 20 wallets from 2010 awakes, transfer money to P2SH address (begins with “3”) and from it they get split into many bech32 addresses by smaller amounts of 10-15 BTC (10 this time).”

Kretov previously flagged stolen BTC from Bitfinex hack being moved

At the beginning of December 2020, Kretov informed The Daily Chain that he flagged over 5000 BTC being moved from wallets linked to the infamous 2016 Bitfinex cryptocurrency exchange hack.

14 wallets containing Bitcoin that was stolen in the 2016 Bitfinex hack awakened on November 30. The amount of BTC moved from the wallets ranged from between 200 BTC to 400 BTC with the total exceeding over 5000 BTC.

The 5000 BTC that have been moved are just a fraction of the 119,755 Bitcoin that was stolen on August 2, 2016. Hackers managed to break through Bitfinex’s security systems and stole the above mentioned amount in 2072 unauthorized transactions.

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