A bitcoin wallet inactive since 2011 has sent nearly 50 BTC, valued at approximately $3.2 million, to an address associated with institutional crypto brokerage FalconX. The transaction, which occurred on August 6, combined funds from the dormant wallet with others to transfer 50 BTC to a SegWit address.
The wallet received its initial funds in July 2011, when bitcoin traded at around $10, and had remained untouched for over a decade. Analysis by Arkham, a blockchain analytics firm, revealed that the destination address had previously sent bitcoin to FalconX deposits and received funds from wallets linked to Nexo and Prime Trust.
No on-chain evidence indicates the 50 BTC has been transferred to FalconX or sold, according to available data. The movement of such a large amount from a long-dormant address has drawn attention from industry observers, who note the rarity of such activity.
The transaction followed a broader trend of vulnerabilities in crypto wallets, with Coinkite reporting that $114 million had been stolen from compromised wallets since July 30. Experts continue to monitor the movement of funds linked to FalconX and its associated addresses.
The event underscores the ongoing risks associated with long-term cryptocurrency storage and the potential for dormant funds to re-enter active markets, influencing price dynamics and institutional interest.
Written by Oliver Grant
Markets Desk
