Six long-dormant bitcoin wallets, last active between 2011 and 2014, transferred 553.59 BTC between Aug. 16 and Aug. 26, worth about $40 million, according to a CoinDesk report cited by ChainCatcher. Five of the wallets sent coins to addresses not linked to any known exchange; the sixth sent 40 BTC to Germany's Boerse Stuttgart Digital. Two of the wallets are connected to a New York lawsuit in which pseudonymous plaintiff Noah Doe is seeking control of bitcoin in 39,069 dormant addresses under the state's abandoned-property law. Galaxy Research data show dormant bitcoin on-chain moves hit their lowest second-quarter level since 2022, and full-year 2026 transfers are expected to be less than half of last year's. Galaxy head of research Alex Thorn said no whale clients cite quantum-computing risk as a sell reason, although some institutions avoid buying bitcoin for that reason. Separately, roughly 210,000 BTC left long-term holder wallets in the week after the Coldcard hardware wallet vulnerability disclosure.
ChainCatcher reported, citing CoinDesk, that six bitcoin wallets active between 2011 and 2014 and untouched since then moved a combined 553.59 BTC between Aug. 16 and Aug. 26, worth roughly $40 million.
Where the bitcoin went
Five of the wallets sent their bitcoin to addresses with no known exchange affiliation. The remaining wallet moved 40 BTC to Boerse Stuttgart Digital, a German crypto custody and trading services provider.
Two of the six wallets are connected to a lawsuit in New York. In that case, a pseudonymous plaintiff, Noah Doe, is seeking control of bitcoin held in 39,069 dormant addresses under the state's abandoned property law.
On-chain trends and investor sentiment
Galaxy Research data show on-chain movement of dormant bitcoin fell to its lowest level since 2022 in the second quarter. Full-year 2026 movement is expected to be less than half of last year's total.
Galaxy's head of research, Alex Thorn, said none of the whale clients he talks to cite quantum-computing risk as a reason to sell. Some institutional investors, however, do use that risk as a reason to avoid buying bitcoin.
Separately, roughly 210,000 BTC left long-term holder wallets within a week after the Coldcard hardware wallet vulnerability was disclosed.
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