Here is another rewritten version with a more analytical crypto-news tone:
A bitcoin wallet that had remained untouched for over a decade transferred $31 million worth of BTC on Monday, adding to a recent rise in activity among dormant wallets following the Coldcard security breach.
The address, labeled 18TExP, had been inactive since 2013 before moving 500 BTC in a transaction detected by blockchain monitoring service Whale Alert. The holdings were worth only about $500,000 when they last changed hands 12.7 years ago.
A dormant wallet becoming active does not provide direct evidence about the owner’s motives. It simply indicates that the person controlling the private keys chose to move previously untouched coins.
However, the timing has sparked interest across the crypto community. The transfer occurred during an ongoing security incident involving Coldcard, a Bitcoin-focused hardware wallet, prompting speculation that the holder may have moved funds as a precautionary security measure.
Blockchain tracker Lookonchain reported that the wallet moved its entire 500 BTC balance, worth approximately $31.27 million, to a new address after more than 12 years of inactivity. The firm suggested the transfer may have been motivated by concerns related to the Coldcard exploit.
The Coldcard incident began on July 30, with attackers reportedly targeting certain wallets generated through affected firmware. Galaxy researchers estimate that the exploit has resulted in losses of around $130 million in bitcoin so far.
The attack has also raised broader concerns about self-custody security. Some analysts have pointed to rising BTC deposits on exchanges as users reconsider the safety of their current storage methods.
Dormant Wallet Activity Picks Up
The 500 BTC movement appears to be part of a wider increase in transfers involving older bitcoin supplies.
CryptoQuant data tracking spent output age bands — which categorizes bitcoin movements based on how long coins remained inactive before being transferred — shows a noticeable increase in older coin activity during the same period.
Wallets holding bitcoin dormant for more than 10 years moved approximately 935 BTC on August 3, representing the largest daily movement for that category since March 20. Meanwhile, bitcoin that had remained untouched for five to seven years recorded a much larger movement of about 6,388 BTC on July 31.
Long-dormant bitcoin can move for various reasons, including estate settlements, exchange wallet management, custody changes, or internal transfers. These transactions do not automatically indicate a response to security concerns.
Still, the timing of several significant dormant wallet movements shortly after the Coldcard breach has led some observers to believe that certain long-term holders may be shifting funds to new addresses as a precaution against potential risks.
