Friday, February 3

$ 49.4 million in Bitcoins were withdrawn from three inactive wallets since 2011

On Wednesday, a Bitcoin address created on July 10, 2011 with 500 Bitcoins transferred all of its BTC for the first time in almost 11 years. Another wallet created on the same day in 2011, transferred another 500 BTC worth more than $ 23 million at the time of transfer.

Likewise, a Bitcoin address created on August 12, 2011, which contained 40 BTCs worth $ 1.8 million, made the withdrawal of these BTCs for the first time in more than a decade. At the time of the transfer, Bitcoin was trading at $ 47,500. And the total of 1,040 BTC transferred on Wednesday exceeded $ 49 million.

Three transactions derived from Bitcoins addresses created in 2011 mobilized 1,040 Bitcoins on December 29, 2021. Source: Bitquery

It could be assumed that the 1,000 Bitcoins mobilized come from the same owner. Because the Bitcoins addresses were created on the same day in 2011. It is also likely that the other 40 BTC mobilized, could have been the same owner, since the address was created about a month later.

Blockchain researchers believe that exchanges may have acquired the mobilized Bitcoins

The data show that one of the transfers could be linked to an address associated with the popular exchange Coinbase. Similarly, data on the other 500 BTC transaction showed that the address of the transfer recipient is also linked to another known Coinbase address.

The 1,040 BTC transferred on Wednesday follow a very similar pattern. Researchers from the Telegram channel «GFIS»And the creator of the platform«“They told the portal” News “that old Bitcoins are highly desired by major exchanges.

“We at GFiS have a theory as to why some major exchanges might want to own old Bitcoins.” The researchers said.

“Possessing these old Bitcoins could help purify a whole group of Bitcoins that could have non-legal origins. And now, if you mix it with the old Bitcoins originating from 2010-2011, it would help you all go through various AML and risk analysis robots. “

The statistics of the Anti-Money Laundering (AML) platform «»Indicate that the wallets that sent the 500 BTC had low-risk assessments. The funds from the address that sent the 40 BTC were derived from a address which once stored 31,723 BTC and withdrew it all on May 11, 2012, when it sent 101 BTC.

At the time of writing this article, the price of Bitcoin is located at $ 46,288.49.  Source: CoinMarketCap
At the time of writing this article, the price of Bitcoin is located at $ 46,288.49. Fountain: CoinMarketCap

The data of transactions, indicate that 0.05437193 Bitcoins were paid in fees. It is not sure if these Bitcoins were sold on the open market or in OTC trades. Since the owner of the Bitcoins could have moved them to disperse them in addresses with smaller amounts of funds. So far the identity of the owner of the old mobilized Bitcoins is unknown.