Galaxy Research said six Bitcoin wallets that had been inactive since 2011, 2012, and 2014 moved a combined 553.59 BTC between Aug. 16 and Aug. 26, with the transfers valued at $40.15 million at the time they were made. Two of the wallets carried the label “Salomon Client Dusted,” which has been linked to the Noah Doe litigation in New York. One transfer involved 40 BTC from a wallet that had been dormant since May 28, 2012, and the funds were sent on Aug. 26 to German crypto custody bank Boerse Stuttgart Digital. Based on an estimated cost basis of about $5, that transfer represented a gain of roughly 1,535,911%. The other movements included 212 BTC, 150 BTC, and 132.31 BTC from long-inactive wallets dating back to 2012, 2014, and 2011. The Noah Doe case seeks a ruling that 39,069 dormant Bitcoin addresses in New York State should be treated as lost property. Decrypt also said some long-term holding addresses moved funds after the Coldcard hardware wallet vulnerability incident in July.
Galaxy Research tracked six Bitcoin wallets that had been inactive since 2011, 2012, and 2014 and found that they moved a combined 553.59 BTC between Aug. 16 and Aug. 26. At transfer-time prices, the coins were worth $40.15 million.
Two of the wallets carried the label “Salomon Client Dusted,” a tag tied to the Noah Doe litigation in New York.
A 40 BTC transfer went to Boerse Stuttgart Digital
One of the transfers involved 40 BTC from a wallet that had been dormant since May 28, 2012. The funds were sent on Aug. 26 to Boerse Stuttgart Digital, a German crypto custody bank. Using an estimated cost basis of about $5, the position was up roughly 1,535,911%.
Other transfers came from old wallets dating back to 2011, 2012, and 2014
The other movements included 212 BTC, 150 BTC, and 132.31 BTC from long-inactive wallets dating back to 2012, 2014, and 2011, respectively.
Noah Doe case and recent moves from old addresses
The Noah Doe litigation seeks a determination that 39,069 dormant Bitcoin addresses in New York State should be classified as lost property. Decrypt also reported that some long-term holding addresses moved funds after the Coldcard hardware wallet vulnerability incident in July.
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