Cryptocurrency wallet moves $ 250 million in BTC after long inactivity

A bitcoin wallet that had been inactive for almost four years suddenly moved about $ 250 million in cryptocurrency to another unknown BTC address. The wallet to which the funds were transferred now contains $ 430 million.

When bitcoin reached its all-time high, the anonymous crypto-king's wallet contained more than $ 1 billion. However, during the last year’s problems in the industry, a large owner of HTS suffered considerable losses. Therefore, at the time of the transaction, the investor’s account had $ 250 million left.

An address «1KUr81» that has been dormant for 3.5 years transferred all 15,000 BTC ($ 252.5M) out to address «1LGAVQ» today.

Now address «1LGAVQ» holds 26,056 $BTC($ 439.2M).https://t.co/rK2AV0Hs1C pic.twitter.com/adqtgYUSd9

— Lookonchain (@lookonchain) January 6, 2023

The first 15,000 BTC were received by the whale back in 2019 and have only now been transferred to another crypto wallet. Blockchain researchers have not yet been able to determine whether it is associated with any exchange or OTC trading platform. Experts assume that the anonymous person is a large retail investor who is currently only accumulating ETH in his accounts.

Earlier, several ETH wallets that had been inactive for years also started moving their funds. Analysts see the reason in the market turbulence and assume that whales want to protect their cryptocurrency. In late November, the Ethereum cryptocurrency wallet with 500 ETH ($ 623,625 at today’s exchange rate) became active for the first time in more than seven years — the user transferred his savings to another cryptocurrency wallet. In August, after 8 years of inactivity, another bitcoin wallet moved more than 1000 BTC. And at the end of September, an anonymous whale made cryptocurrency transactions worth more than a billion dollars from the Huobi exchange.