Mystery surrounds why an OG burned $1M in Bitcoin
In March, someone moved $1 million worth of Bitcoin through a large crypto custodian. Three weeks later, almost exactly the same amount came back.
Why It Matters
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Key Facts
- Fact 1: In March, someone moved $1 million worth of Bitcoin through a large crypto custodian.
- Fact 2: The wallet had been dormant for almost 12 years before it suddenly sprang back to life.
- Fact 3: Bitcoin educator Bennet noted it sent 20.00010537 BTC to “a custodian of some kind” before receiving it back again (minus $3 or so).
- Fact 4: Seven weeks after that, it was burned.” The mystery BTC transaction is part of a wider enigma surrounding 107 BTC burned in May, worth roughly $8.5 million at the time.
In March, someone moved $1 million worth of Bitcoin through a large crypto custodian. Three weeks later, almost exactly the same amount came back.
Incredibly, less than two months after that, the Bitcoin was deliberately destroyed. The wallet had been dormant for almost 12 years before it suddenly sprang back to life. Bitcoin educator Bennet noted it sent 20.00010537 BTC to “a custodian of some kind” before receiving it back again (minus $3 or so).
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
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Original source: Cointelegraph — Bitcoin
Also reported by Cointelegraph.