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Dormant Bitcoin miner sends $3 million to Binance after 14 years of inactivity
A rare Satoshi-era Bitcoin miner address has awakened after being dormant for 14 years, sending over $3 million in BTC to Binance.
An advance Bitcoin miner moved 50 Bitcoin, equivalent to $3.05 million, marking a rare “Satoshi era” transaction. Second data from Lookonchain, the address to which 1PDTD…m3Jcm sent the funds Binance on June 27.
Blockchain transaction history indicates that the miner obtained 50 BTC in July 2010, a few months after the launch of the Bitcoin network.
A miner’s wallet woke up after being dormant for 14 years and deposited 50 $BTC($3.05 million) a #Binance 7 hours ago.
The miner earned 50 $ BTC from mining on July 14, 2010.
Address:
1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm pic.twitter.com/toKmBfbUne—Lookonchain (@lookonchain) June 27, 2024
The “Satoshi era” address refers to addresses that were active during the early days of the Bitcoin network, specifically from the time the first cryptocurrency was created by Satoshi Nakamoto in 2009 until around 2011, when Satoshi Nakamoto mysteriously disappeared.
This is not the first case of old Bitcoin wallets being reactivated. Several “Satoshi era” addresses have shown activity since the beginning of 2023. In July last year, a wallet dormant for 11 years transferred $30 million worth of Bitcoin to other wallets. In August, another wallet moved 1,005 BTC to a new address.
In March 2024, another long-dormant miner transferred funds after 14 years, and part of the transaction ended up at the cryptocurrency exchange Coinbase.