A 12-year-old bitcoin wallet transferred $31 million on Monday, part of a larger trend of dormant coins moving following the Coldcard security breach.
By Omkar Godbole Aug 4, 2026, 4:48 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Long-dormant bitcoin wallet moves its coin stash. (Whale Alert)Recent transactions from old bitcoin wallets have surged, reflecting a broader trend of dormant coins moving due to security concerns.- A bitcoin wallet that had not been active since 2013 moved all its funds, totaling 500 BTC, or approximately $31.3 million, on Monday amidst ongoing security issues linked to Coldcard hardware wallets.
- Data indicates a significant increase in the movement of vintage coins, with some remaining untouched for five to ten years, as a result of the recent Coldcard hack.
A bitcoin wallet, identified as 18TExP, which has been inactive since 2013, executed a transaction of 500 BTC valued at $31.3 million on Monday. This activity coincides with a series of similar movements of older coins since the Coldcard hack initiated on July 30.
When this particular wallet last transacted over a decade ago, the coins were worth around $500,000.
The act of transferring coins from one wallet to another does not inherently indicate any particular motive, aside from the possibility that an individual with a decade-old private key decided to initiate a transfer.
However, the timing of this transaction is noteworthy as it occurred amid a significant security issue surrounding Coldcard, a widely used hardware wallet for Bitcoin users, leading to speculation that it might be a proactive security measure.
“Wallet 18TExP, holding 500 BTC ($31.27M), transferred its entire amount to a new wallet just one hour ago after over 12 years without activity. The owner might have moved the funds due to security issues following the Coldcard breach,” noted blockchain analyst Lookonchain on X.
Since the onset of the Coldcard incident, hackers have exploited a vulnerability dating back to March 2021, leading to the theft of thousands of BTC. Researchers from Galaxy estimate the total losses to be around $130 million in BTC.
Over the past weekend, analysts observed a surge in BTC inflows to exchanges, suggesting a decline in confidence regarding self-custody security as a direct result of the hack.
The 500 BTC Transfer is Part of a Larger Trend
On-chain data from CryptoQuant, which monitors the so-called spent output age bands—an indicator categorizing bitcoin transactions based on how long the coins have been inactive—indicates a noticeable increase in the movement of older coins during this period.
Old coins dormant for seven to ten years have become active. (CryptoQuant)On August 3, approximately 935 BTC that had been dormant for over ten years were transferred, marking the highest volume of such transactions since March 20. Additionally, on July 31, a significant spike was noted with about 6,388 BTC moved from wallets inactive for five to seven years.
There are various reasons why old coins might move, such as estate transfers, consolidations among exchanges, or custodial migrations, which may not be directly related to any specific security breach. However, the clustering of substantial, long-dormant transactions immediately following the Coldcard incident suggests that many holders may be shifting their assets as a precautionary measure.
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