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Dormant 2013 bitcoin wallet sends $31.3 million amid Coldcard hack
On-chain data show the 500 BTC transfer followed the July 30 Coldcard hack timeline, with Galaxy estimating about $130 million in damage so far.
CoinDesk reports a long-dormant Bitcoin wallet holding 500 BTC, inactive since 2013, moved its entire balance on Monday. Blockchain data cited by the outlet show the transaction was first flagged by Whale Alert and valued at $31.3 million at current prices.
The wallet, labeled 18TExP, had last moved its coins roughly 12.7 years ago and the reactivation occurred during an ongoing Coldcard hardware wallet security crisis. CoinDesk says several other old-coin transfers also appeared within a narrow window, after the Coldcard hack began on July 30.
According to CoinDesk, researchers at Galaxy estimate total damage so far is about $130 million in BTC, driven by attackers draining thousands of BTC from Coldcard-generated wallets. The outlet adds that the incident stems from a flaw dating back to March 2021.
CoinDesk also points to on-chain analytics showing a spike in older coins being spent, including about 935 BTC from coins dormant for 10 years or longer on Aug. 3, the largest single-day total since March 20. It further notes that coins dormant for five to seven years saw roughly 6,388 BTC move on July 31, with timing aligned to the Coldcard-related period.
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