After Eight Years, a Massive Bitcoin Wallet Is Reactivated

A wallet containing 321 bitcoins that had not been used in over a decade was used for a transfer very recently.

According to a report, a Bitcoin wallet storing millions of dollars worth of BTC has been reopened after an almost eight-year hiatus. The wallet, which had not been used since 2013, now has 321 BTC (about $15 million at current rates) and successfully executed a transaction on December 21 for the first time in 8.8 years.

The transaction was detected by blockchain tracking and analytics system “Whale Alert,” which states that the wallet’s value in 2013 was $6,594, compared to $15.1 million yesterday, a 2300 per cent increase.

Members of the cryptocurrency community have been asking who owns the wallet and why it was activated after such a lengthy period of inactivity. Some suspect it may belong to Satoshi Nakamoto, the pseudonymous founder of Bitcoin, who vanished a few years before the wallet was last used.

Other members of the community believe the wallet’s sudden reactivation is the consequence of someone discovering a means to hack into old wallets (perhaps because the original owners did not choose very good seed phrases).

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