Dearest readers, it seems the digital seas have been stirred by the sudden awakening of some rather ancient Bitcoin (BTC) whale wallets. According to the ever-observant Coinbase director, Conor Grogan, this might just be the result of a rather dastardly hack. 🕵️♂️
Posting on the social media platform X, Grogan regales us with several intriguing observations about last week’s dramatic movement of whale wallets holding a staggering $8 billion in BTC, which had been lying dormant for over 14 years. 🐳
Grogan notes that one of these wallets made a rather discreet test transaction on the Bitcoin Cash (BCH) network just hours before the grand movement. This, he suggests, could indicate that the person responsible was trying to remain incognito. 🕵️♀️
“There is a small possibility that the $8 billion in BTC that recently woke up were hacked or compromised private keys,” Grogan muses. “I found a single BCH test transaction from one of the BTC whale clusters… followed by the full amount. An hour later, the BTC wallets began to move. ”
“There is a possibility that the owner was testing the private key in a way that wouldn’t get noticed, as BCH isn’t monitored heavily by whale-watching services. What makes me say this is the other BCH wallets have not been touched at all; why wouldn’t they also sweep these?”
“This is all extreme speculation, but the movements are extremely odd here. I do not think that this is an exchange wallet due to the BCH activity, and given the BTC transfers appear to be all manual.”
For those not in the know, Bitcoin Cash is a hard fork of Bitcoin. Wallets that held BTC before the 2017 Bitcoin Cash fork may also hold the same amount of BCH. Grogan seems to be suggesting that the BCH test transfer could have been the hacker’s way of checking whether they had access to the wallet before making off with the massive BTC stash. 🏃♂️💨
The wallets in question first accumulated Bitcoin when BTC was trading at a mere $0.78. Imagine the fortune they’ve amassed! 🤑
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Read More
- USD JPY PREDICTION
- Metaplanet’s Bold Bet: $50M in Zero-Interest Bonds for Bitcoin!
- USD CAD PREDICTION
- Silver Rate Forecast
- GBP JPY PREDICTION
- DOT PREDICTION. DOT cryptocurrency
- EUR USD PREDICTION
- USD KRW PREDICTION
- GBP CAD PREDICTION
- USD INR PREDICTION
2025-07-07 12:26