Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Bitcoin whale moves $33 million after 13 years of dormancy, named in lawsuit

Bitcoin whale moves $33 million after 13 years of dormancy, named in lawsuit

CointurkCointurk2026/10/19 17:24
By:Cointurk

An early Bitcoin address first funded in September 2013 shifted 411.45 BTC, currently valued at approximately $33.4 million, to a new wallet on Sunday. This marks the first-ever outgoing transaction for the long-dormant account and adds to a recent uptick in activity among old Bitcoin wallets.

Whale movement traced to lawsuit over abandoned wallets

The address, which begins with “13Coop,” had not sent any Bitcoin since it was first loaded on September 11, 2013, according to data from both Galaxy Research and analytics platform Arkham. At the time, Bitcoin prices hovered around $130, making the initial value of the 411.45 BTC roughly $54,000. Galaxy analysts calculated the wallet’s average cost basis at about $127 per coin, giving the owner an unrealized gain of more than 64,000% after 13 years of inactivity.

The transferred coins are now located in a single, newly created address. Blockchain data shows no evidence that the receiver is linked to any known cryptocurrency exchange, leaving it unclear whether the funds are being prepared for sale or will remain dormant.

Galaxy Research tagged the sending address as “Noah Doe #970,” placing it among 39,069 dormant wallets named in a lawsuit filed earlier this year in New York by a plaintiff using the pseudonym Noah Doe, alongside two Wyoming-based firms.

Mini dictionary: Galaxy Research, the analytics arm of digital asset financial services firm Galaxy Digital, is known for tracking long-term trends in Bitcoin address activity and providing blockchain analytics and research.

In the New York lawsuit, the plaintiffs claim approximately 3.8 million BTC held by dormant wallets should be considered abandoned property under state lost-and-found law. However, the plaintiffs do not possess the private keys for these wallets.

Testing the lawsuit’s claims

According to Galaxy Research, the activation of these old wallets undermines the legal case, as spending coins requires possession of the private keys. This evidence shows at least some targeted wallets remain in active ownership. Alex Thorn, head of research at Galaxy, has observed a steady acceleration in the number of “Noah Doe” wallets showing on-chain activity month over month.

Galaxy also indicated that the wallet was one of those targeted in a 2025 “dusting” campaign. This scheme sent tiny amounts of Bitcoin embedded with messages to dormant addresses, possibly to help bolster the claim that such wallets were abandoned. Arkham analysis confirms a history of dust transactions, with some flagged as phishing attempts.

Every new transaction out of these addresses creates challenges for arguments that the wallets have been abandoned, according to industry observers.

Uptick in old coin movements

The recent transfer joins a growing list of substantial sums moving out of long-inactive wallets. Data from Galaxy Research points to a notable acceleration in the awakening of Bitcoin’s oldest coins throughout 2026.

Barely a week ago, a Satoshi-era address mined in 2010 moved for the first time in 16 years. In late September, approximately $161 million in decade-old Bitcoin was shifted over two weeks. Last week, another whale moved $377 million after holding through all major market downturns since 2020.

This pattern indicates an emerging trend in the landscape of long-dormant crypto wallets and raises fresh questions about potential future movements as legal scrutiny intensifies.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

AI Plummets, Apple Hits New High! $5 Trillion Market Cap Surpasses Nvidia—Is This Reasonable?

While tech stocks are suffering due to AI-related panic, Apple has defied the trend by adopting a "light AI" and low capital expenditure strategy, becoming the first company to surpass a $5 trillion market cap. Its correlation with the Nasdaq 100 Index has turned negative for the first time in history. Pre-orders for the foldable iPhone Duo are booming, and new MacBook models with touch functionality are expected soon. However, whether a forward P/E ratio of 36 times can support this high valuation remains uncertain—answers may arrive at the October 28th launch event.

华尔街见闻•2026/10/20 01:31
AI Plummets, Apple Hits New High! $5 Trillion Market Cap Surpasses Nvidia—Is This Reasonable?

Deutsche Bank: $3.4 billion acquisition of Trivium brings multi-channel value; assigns Buy rating to Silgan (SLGN.US)

After Circo Holdings announced a deal with Trivium, Deutsche Bank gave it a "Buy" rating and set a target price of $49.

智通财经•2026/10/20 01:12
Deutsche Bank: $3.4 billion acquisition of Trivium brings multi-channel value; assigns Buy rating to Silgan (SLGN.US)

Bottom-fishing Funds Arrive! Semiconductor and Korea ETFs See Strong Inflows, Memory Sector Continues to "Bleed"

JPMorgan reports that leverage ETFs saw a record weekly inflow of $9.3 billion overall. Semiconductor ETFs received a total inflow of around $7.6 billion. The 3x long semiconductor ETF (SOXL) recorded a historical high with $7.2 billion in weekly inflows, tripling its previous peak. Korean ETFs attracted $1.3 billion in inflows, marking the strongest buying since July. Meanwhile, the memory ETF (DRAM) experienced outflows for the eighth consecutive week, with a record single-week redemption of $900 million.

华尔街见闻•2026/10/20 00:56
Bottom-fishing Funds Arrive! Semiconductor and Korea ETFs See Strong Inflows, Memory Sector Continues to "Bleed"

SpaceX (SPCX.US) Financial Report Triggers Options Market Surge, Market Cap Volatility May Exceed $100 Billion

On Tuesday, multiple major companies will release their financial reports in quick succession, with the options market indicating high volatility. Tech giants such as SpaceX and Netflix have significant potential for changes in market capitalization, while industrial stocks like RTX and GE are also drawing attention. Analysts' expectations are divided.

智通财经•2026/10/20 00:32