A wallet created on Dec. 6, 2013 moved 500 BTC on Monday, a fresh case of dormant Bitcoin wallets moving funds. The transfer at block height 960867 was worth $31.32 million and came from an original Pay-to-Public-Key-Hash address.
That same stash was worth roughly $521,000 when bitcoin traded at $1,042 per coin at the end of 2013. The gap between then and now turns the move into a balance-sheet decision as much as a transfer, because the coins have sat untouched long enough for the market value to dwarf the original cost basis.
ZachXBT and Coldcard fear
ZachXBT, the blockchain investigator, said he has no plans to trace the $88.6 million Coldcard hack. His stance matters because this wave of movement is being read against the same security scare that has pushed dormant wallets back into motion.
Between July 30 and Aug. 1, 306 BTC from long-dormant wallets moved, and hundreds of additional coins have moved voluntarily since July 30. Bitcoin.com News reported on Aug. 1 that the Coldcard exploit appeared to be driving bitcoin holders toward centralized exchanges and custodians, which makes the latest 500 BTC transfer look more like a defensive response than a trading impulse.
Arkham Intelligence and the recipient
Arkham Intelligence data shows the receiving Pay-to-Witness-Public-Key-Hash address is not tagged as any known exchange, custodian, institution, or other identifiable entity. That leaves the transfer without a public owner label and keeps the practical question squarely on the receiving side: whether the coins stayed under the same control or moved to a new one.
Coldcard's flawed firmware and random number generator have resulted in an estimated 1,431.97 BTC being swept and stolen, with more than 1,400 BTC already swept through the exploit. For anyone watching dormant holdings, the immediate next question is not how old the wallet was, but who controls the destination address that received the 500 BTC.
