Two days later, bitcoin dropped to new August lows. It fell below $20K per unit for the first time since mid July. Two addresses were created on December 19, 2013, and sent 10,000 bitcoin to unknown wallets. The bitcoins had been sitting inactive for nearly nine years. According to Onchain data, the 10,000 coins that were moved this week originated from the Mt Gox hack on June 19, 2011.
Whale that Once Had 134,000 Bitcoin from the 2011 Mt Gox Hack, Spends the Last 10,000 This week
On Sunday, August 28, 2013, a whale traveled approximately 10,001.514 BTC, and Monday, August 29, 2022. Two addresses (1, and 2) were created eight years ago on December 19, 2013 and eight months before.
Blockchain parser btcparser.com caught the transaction for 10,001 bitcoins. This tool often captures so-called "sleeping Bitcoins" that have been sitting in address addresses for years. Blockchain parsers have caught some sleeping bitcoins, including BTC block subsidies that were mined in 2011 and 2010.
The 2013 bitcoins were sent out in two batches of 5,000 BTC each transaction and then divided into smaller transactions. One address was divided into multiple fractions of 47.98 BTC and one transfer was for 200.99 BTC.
The "14RKF” address that sent the 5,000 BTC was from a wallet 18JPr, which once held 24,404.50 BTC. Original receipt of 24K BTC from wallet18JPr on November 24, 2012
The funds were dispersed to other addresses, although some wallets that received fractions 47.98 BTC Monday still have the funds. 15n6b, which distributed 5,001.514 BTC on Monday, August 28, 2022 was also derived from the 18JPr wallet. It once held 24,404.50 BTC.
Onchain Data shows that 10,000 Bitcoins were moved this week from the 2011 Mt Gox Breach
Original source of the 2013 bitcoins used on Sunday and Monday was wallet 1McUC, which once held 134.897.01 BTC. It received the coins on June 19, 2011, but it has since been depleted. The entity then began moving the BTC stash from July 20th 2011.
Before June 19, 2011, the 134.897.01 BTC was a mixture of batches sent by 14 different senders. The bitcoins were likely to be owned by one entity, regardless of whether they were the 10,000 BTC that was spent in this week, or the original 134K BTC.
Transfers between June 2011 and now do not appear to be an exchange. The whale's massive stash of 134K BTC has gradually decreased in value over the past 11 years. This week's 10001 BTC transaction seems to have been the last of the 1McUC stash.
The 10,001 BTC is unique because it was used in batches of tens of thousands, but only one cent of the 10,001 BTC batch was ever spent. Taisia, a blockchain researcher and admin of Telegram channel "GFISchannel", stated Tuesday that 10,000 bitcoins were derived from the 2011 Mt Gox hack.
Taisia stated that the blockchain visualization clearly showed that the same wallet (1McUC), which received a large amount from Gox (134K BTC) at the time of the events, appears in each transaction chain associated with both withdrawals. "And, we also remember that the hackers attacked the BTC-E exchange later on.
Taisia added:
The events with these exchange leaders suggest that if they were part of the summer cyber attack it is possible that the old piggy banks have been opened by law enforcement agencies.
Taisia also stated that it was an unusual coincidence that 2011 Mt Gox coins have been distributed this week, while rumors about the 140,000 Mt Gox Bitcoin were spreading like wildfire over the weekend. Bitcoin.com News reported the speculation and rumors about old Mt Gox Bitcoins three days ago. It also highlighted the number of people calling it fake news by actual Mt Gox creditors.
What did you think of the whale who spent 10001 bitcoins this week, and its association with the 2011 Mt Gox hack. Please comment below to let us know your thoughts on this topic.
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By: Jamie Redman
Title: Whale Spends 10,000 BTC Worth $203M, Bitcoins Stem From the Infamous 2011 Mt Gox Hack
Sourced From: news.bitcoin.com/whale-spends-10000-btc-worth-203m-bitcoins-stem-from-infamous-2011-mt-gox-hack/
Published Date: Tue, 30 Aug 2022 14:00:50 +0000
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