A bitcoin wallet dormant since 2013 moved $31 million, and it's not the only one
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
A bitcoin wallet holding 500 BTC, dormant since 2013, moved all its funds on August 3, 2026, amid a broader wave of movement from long-dormant wallets. This activity coincides with a security breach involving Coldcard hardware wallets that began on July 30. The wallet, labeled 18TExP, transferred its coins, then valued at $31.3 million, to a new wallet, an action interpreted as a security precaution following the Coldcard hack.
Why it matters
The source highlights that the reactivation of old bitcoin wallets amid the Coldcard hack suggests heightened security concerns among holders of long-dormant coins. The movement of these coins may reflect efforts to safeguard assets from vulnerabilities exposed by the hack. Additionally, increased inflows of bitcoin to exchanges during this period indicate shaken confidence in the security of self-custody wallets.
Key context
Since July 30, a flaw dating back to March 2021 in Coldcard wallets has been exploited to drain thousands of BTC, causing estimated losses near $130 million. On-chain data from CryptoQuant shows a spike in the movement of bitcoin that had been dormant for five to ten years, with 935 BTC dormant for over ten years moving on August 3, and 6,388 BTC dormant for five to seven years moving on July 31. Such movements can occur for various reasons but the timing after the Coldcard hack suggests a security-driven response.
Key numbers and entities
The wallet 18TExP moved 500 BTC worth approximately $31.3 million. Estimated total losses from the Coldcard hack reach about $130 million in BTC. CryptoQuant provided data on bitcoin movements by dormant coin age. The Coldcard hardware wallet producer and blockchain sleuth Lookonchain are noted in relation to the hack reporting and analysis.
What remains unclear
The source does not confirm the motives behind the wallet movements, acknowledging that coins may move for many reasons unrelated to the hack, such as estate or custodial transfers. It does not provide details on the identity of the wallet owners or the exact nature of the Coldcard vulnerability exploited. The source does not flag additional open questions beyond these uncertainties.