Bitcoin News Today: Ancient Bitcoin Wallet Tied to 2011 MyBitcoin Hack Sells 80,000 BTC in $1.6B Historic Sale

A long-dormant Bitcoin wallet associated with the cryptocurrency’s earliest days has sparked speculation after transferring and selling 80,000 BTC in a single transaction. The wallet, first identified by blockchain analytics firm CoinGlass, had remained inactive since its initial activity during Bitcoin’s “Satoshi Era,” a period spanning its creation in 2009. The 14-year-old funds, traced to wallets hosted by the defunct MyBitcoin service, were moved in late 2024 and fully liquidated across multiple exchanges. The sale, valued at over $1.6 billion at current prices, marks one of the largest single Bitcoin transactions in recent history [1].

Ki Young Ju, CEO of CryptoQuant, proposed a theory linking the funds to the collapse of MyBitcoin, a wallet service hacked in 2011. The inactive wallets, which Ju noted had not seen activity since April 2011, are believed to have originated from either the hacker or Tom Williams, MyBitcoin’s anonymous founder. Ju emphasized that the prolonged dormancy and origin point strongly suggest a connection to the service’s collapse, though no definitive proof has been provided [1].

Galaxy Digital, a major institutional crypto firm, confirmed it facilitated the sale on behalf of a client. The transaction, described as part of a “legacy planning strategy” for a Satoshi-era user, involved distributing the 80,000 BTC across exchanges in a coordinated manner. While Galaxy did not disclose whether it conducted forensic analysis of the wallet, the firm highlighted the sale’s significance as one of the largest nominal Bitcoin transactions in history [1].

The sudden activation of the wallet has raised questions about its custodianship and the motivations behind the sale. Unlike typical whale behavior, where large holdings are often released gradually to minimize market impact, this transaction was executed rapidly, prioritizing liquidity over price stability. Analysts noted that the complete liquidation contrasts with previous patterns of ancient wallets, which have largely remained dormant since the 2010s [1].

Despite the transaction’s magnitude, the identity of the whale remains speculative. While theories range from early developers to obscure mining groups, no concrete evidence has emerged. The lack of further activity from the wallet post-sale also leaves uncertainty about whether this represents the full balance or only a portion of its holdings. The pseudonymity of Bitcoin’s ecosystem complicates efforts to attribute such events to specific individuals, underscoring the challenges of tracking large transfers in a decentralized network [1].

The event highlights the latent influence of ancient Bitcoin wallets, whose movements can significantly impact market dynamics. With over a decade of inactivity, the sudden sale underscores the unpredictable nature of the asset class and the potential volatility tied to the activation of long-dormant balances. For now, the transaction serves as a rare insight into Bitcoin’s origins and the enduring mystery surrounding its early adopters.

Source:

[1] [Real-Time Crypto News, Latest Cryptocurrency Updates](https://www.coinglass.com/ru/news)

[2] [Ancient Whale From the Satoshi Era That Transferred 80,000 Bitcoins Sold Them All — The Whale’s Identity May Have Been Revealed](https://coinmarketcap.com/community/articles/6884851f1013875e148796aa/)