Whale Uses 10,000 BTC Worth $203 Million, Bitcoins Originate From Infamous 2011 Mt Gox Hack – Bitcoin News

Within two days, bitcoin’s price fell to new lows in August as it fell below the $20,000 per unit region for the first time since mid-July. During that time, two addresses created on December 19, 2013 sent 10,000 bitcoins worth $203 million to unknown wallets after sitting dormant for nearly nine years. Onchain data shows that the 10,000 coins moved this week originally came from the Mt Gox breach that occurred on June 19, 2011.

Whale That Once Held 134,000 Bitcoin From 2011 Mt Gox Hack Uses Last 10,000 This Week

A 2013 whale moved approximately 10,001,514 BTC on Sunday, August 28 and Monday, August 29, 2022. The funds originated from two addresses (1, & 2) created eight years and eight months ago on December 19, 2013.

The 10,001 bitcoin transaction was caught by blockchain parser btcparser.com, a tool that often catches so-called ‘sleeping bitcoins’ in motion after sitting idle in addresses for years. Some of the dormant bitcoins caught by blockchain parsers are BTC block grants mined in 2011, 2010 and 2009.

The 2013 bitcoins were sent in two batches of 5,000 BTC per transaction, then split into several smaller transactions. For example, an address was split into several fractions of 47.98 BTC, and a single transfer for 200.99 BTC.

The “14RKF” address that sent 5000 BTC came from a wallet 18JPr that once held 24404.50 BTC. 24K BTC from wallet 18JPr was originally received on November 24, 2012.

Some of the wallets that received fractions of 47.98 BTC on Monday still hold the funds, but 200.99 BTC was dispersed to other addresses. The address 15n6b that dispersed 5,001,514 BTC the day before August 28, 2022 also originated from the 18JPr wallet that once held 24,404.50 BTC.

Onchain data shows 10,000 Bitcoin moved this week came from the 2011 Mt Gox breach

The 2013 Bitins used on Sunday and Monday were originally taken from the wallet 1McUC which once had 134,897.01 BTC after receiving the coins on June 19, 2011. Then the entity started moving its BTC holdings on July 20, 2011.

Before June 19, 2011, 134,897.01 BTC originated from different batches sent from 14 different senders. Onchain analysis further shows that the bitcoins, whether the 10,000 BTC spent this week or the original 134K BTC, likely belonged to a single entity.

The transfers between June 2011 and up until now show no signs of being an exchange, and the whale’s mega holding of 134K BTC was gradually depleted in fractions over the past 11 years. The 10,001 BTC spent this week appears to be the last of the holdings originating from the original 1McUC address.

10,001 BTC is special because the entity spent tens of thousands of bitcoins in batches between July 2011 and until the end of 2013, but not a single cent of the 10,001 BTC batch was spent for almost nine years. On Tuesday, blockchain researcher and administrator of the Telegram channel “GFISchannel,” Taisia, said the 10,000 bitcoins came from the infamous Mt Gox hack in 2011.

“The blockchain visualization clearly shows that in each of the transaction chains associated with both withdrawals, the same wallet (1McUC) is actually shown, which received a large amount (134K BTC) from Gox, right at the time of the described events,” Taisia ​​told Bitcoin.com News . “And, as we recall, the founders of the BTC-E exchange, which was created later, and later WEX were also suspected of the subsequent hacker attack.”

Taisia ​​further added:

Given the events now taking place with the managers of these two exchanges, if they were involved in this summer’s cyber attack, it is possible that these old piggy banks will be opened under the influence of law enforcement agencies.

Taisia ​​also mentioned that it was a strange coincidence that these 2011 Mt Gox coins were distributed this week while rumors of 140,000 Mt Gox bitcoin spread like wildfire this past weekend. Bitcoin.com News reported on the speculation and rumors surrounding old Mt Gox bitcoins three days ago and the number of people and actual Mt Gox Creditors call it “fake news.”

What do you think about the whale that spent 10,001 bitcoins this week and its association with the 2011 Mt Gox hack? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.