1,200 Bitcoin Worth $20M Moved from Dormant Addresses in the Past Few Days

Introduction

Cryptocurrencies are volatile, and even when they’re not, you can still expect them to be newsworthy. The latest cryptocurrency news out of Tokyo is that there’s been a sudden spike in the movement of bitcoin from dormant addresses. In fact, according to CoinDesk’s analysis, about $20 million worth of bitcoins have moved from addresses that had been inactive for over a year before this week’s activity began.

Movements of around $20 million worth of bitcoin have started to occur over the past few days.

Movements of around $20 million worth of bitcoin have started to occur over the past few days, according to data from blockchain.com. The transfers were made in two separate transactions earmarked to two different addresses.

According to data published by blockchain.com, the first transaction saw roughly 1,200 BTC moved from a seemingly dormant address on August 14th at approximately 4:52PM UTC (5:52 PM GMT). Following that transfer there was a second movement which saw another 1,200 BTC moved out at 8:01PM UTC (9PM BST) on August 15th.

The identity behind these transactions is unknown but they could potentially belong to anyone who had access or control over those addresses before they went into ‘dormancy’; whether this means they were owners themselves or someone else who was simply helping them manage their funds earlier in 2019 remains unclear.

The bitcoins were dormant for over a year, and the transfers were made in two separate transactions earmarked to two different addresses.

The two transactions were made to two different addresses. They took place in the last three days and are worth $20 million.

Analysts are still trying to decipher the addresses’ origins, but they believe that they may be related to the now-defunct Mt Gox exchange.

• Analysts are still trying to decipher the addresses’ origins, but they believe that they may be related to the now-defunct Mt Gox exchange.
• Mt Gox was a bitcoin exchange that was created in 2010 and shuttered in 2014 after losing 850,000 bitcoins worth about $450 million at the time. At one point, Mt Gox accounted for more than 70% of all bitcoin transactions worldwide.
• The company filed for bankruptcy protection after its customers lost their money due to what it described as hackers stealing bitcoins from its “hot wallet,” where users can store digital currency temporarily while making transactions on other exchanges or applications.

One thing is certain: cryptocurrency exchanges are always making news.

One thing is certain: cryptocurrency exchanges are always making news.

Cryptocurrency exchanges have been in the headlines repeatedly over the past few years, sometimes for reasons that may not be obvious to outsiders of this budding industry. The exchange Coinbase has been especially busy in recent months, with its decision to seek regulatory approval from New York State being one example of its increased visibility. In another example, Binance’s announcement that it would delist controversial coins (like Bitcoin SV) caused some controversy on social media—but it also helped bring attention to some other coins that were otherwise overlooked by investors and traders alike.

Conclusion

On the one hand, this news isn’t necessarily groundbreaking. We’ve seen bitcoin movements happen before, and it’s fairly normal for cryptocurrency exchanges to lose funds due to hacking or other security issues. On the other hand, however, these recent transfers could be indicative of something more nefarious going on behind closed doors at Mt Gox’s former headquarters in Japan. At the very least, it serves as yet another reminder that cryptocurrencies are still very much in their infancy when it comes to regulatory oversight; but hopefully we’ll see some movement toward a better future soon!