Dormant 2011 Bitcoin Wallet Moves 50 BTC Worth $3.2 Million

A Bitcoin wallet dormant since 2011 has suddenly moved nearly 50 BTC, worth approximately $3.2 million, attracting attention after the funds landed at an address with previous links to institutional crypto brokerage FalconX.

The original wallet received 49.97 BTC on July 16, 2011, when Bitcoin traded near $10, according to Galaxy Research. The coins remained untouched for roughly 15 years, surviving multiple Bitcoin bull markets, crashes and major crypto exchange failures while increasing dramatically in value.

Blockchain data show the transaction was confirmed in Bitcoin block 961331 at 20:14 UTC on Aug. 6. It combined four inputs containing the long-dormant 49.97 BTC with two smaller inputs from other addresses. A total of 50 BTC was transferred to a SegWit address, while roughly 0.00116 BTC went to another output after transaction fees.

The receiving wallet is not new. Arkham blockchain data indicate that it has been active for years and previously transferred 6.336 BTC and 16.131 BTC to addresses identified by the analytics platform as FalconX deposit wallets. It has also received cryptocurrency from addresses labeled as belonging to a Nexo hot wallet and Prime Trust custody.

However, there is currently no on-chain evidence showing that the newly moved 50 BTC was deposited with FalconX, transferred to another crypto exchange or sold. The Bitcoin remained at the destination address as of Friday morning.

Movements involving dormant Bitcoin wallets often attract market attention because early holders acquired BTC at prices far below current levels. Still, an on-chain transfer does not necessarily signal an upcoming Bitcoin sale. Holders may move funds to upgrade wallets, change custody arrangements or improve security.

The transfer also comes amid heightened concern over cryptocurrency wallet security. Coldcard manufacturer Coinkite recently urged affected users to move Bitcoin after disclosing a firmware vulnerability that could expose private keys. Attackers have reportedly stolen as much as $114 million from vulnerable wallets since July 30.

There is no evidence connecting the 2011 Bitcoin wallet to the Coldcard exploit. The wallet predates Coldcard by years, meaning its sudden activity could have an entirely unrelated explanation.