A 12-year-inactive Bitcoin wallet moved 500 BTC worth $31.3 million as security concerns rise over a hardware wallet exploit.
A Bitcoin wallet inactive since 2013 transferred 500 BTC, valued at $31.3 million, on Monday. The transaction occurred amid a security crisis involving Coldcard hardware wallets, which attackers have exploited since July 30 to drain thousands of BTC.
The wallet, labeled 18TExP, last moved its funds 12.7 years ago when the 500 BTC were worth roughly $500,000. On-chain data reveals a broader trend of dormant coins reactivating, some untouched for five to 10 years, coinciding with the ongoing Coldcard hack.
Blockchain analysts suggest the transfer may be a precautionary measure by the wallet owner to secure funds. The timing aligns with heightened security concerns following reports of multi-million dollar losses linked to the exploit.