Onchain Lens reported on Aug. 3 that a dormant Bitcoin whale moved 730 BTC, worth about $46.12 million, to a new wallet roughly one hour earlier, ending a four-year period of inactivity. On-chain records show the address had accumulated those coins over the past seven years. The transfer follows an earlier report the same day that another whale, dormant for seven months, shifted 16,400 BTC to a new address. BlockBeats cited analysts as saying that continued attacks tied to vulnerabilities affecting hardware wallet maker Coldcard may be an important factor behind some large holders moving long-held positions. The report also said security concerns around hardware wallets are rising, potentially prompting more long-term Bitcoin whales to move assets to fresh addresses as a precaution.
Onchain Lens said on Aug. 3 that a Bitcoin whale ended four years of dormancy and moved 730 BTC, worth about $46.12 million, to a new wallet around one hour earlier.
On-chain history shows the wallet had accumulated those holdings over the past seven years.
Earlier the same day, another whale was reported to have ended a seven-month dormant period and transferred 16,400 BTC to a new address.
BlockBeats, citing analysts, said continued attacks linked to vulnerabilities affecting Bitcoin hardware wallet maker Coldcard may be an important reason some whales are moving their full holdings. The report added that security concerns around hardware wallets are drawing serious scrutiny and may push more long-term large holders to shift assets to new addresses to reduce risk.
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