12-Year-Dormant Bitcoin Wallet Moves 500 BTC Worth $31.27M

A Bitcoin wallet identified as 18TExP, which held 500 BTC valued at approximately $31.27 million, transferred its entire balance to a new wallet about an hour ago after remaining inactive for more than 12 years, according to blockchain analytics platform Lookonchain. 

While the reason for the transfer has not been confirmed on-chain, the analytics platform suggested the owner may have relocated the holdings due to security concerns following the Coldcard hack.

No additional details about the wallet owner or the destination address were disclosed, and the proposed motivation for the transfer remains speculative.

Source: Lookonchain