Dormant Ethereum Wallet Reawakens After 8 Years, Moves Millions

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An Ethereum wallet, which had been inactive since 2015, has suddenly come to life after eight long years of dormancy, as they moved a total of 8000 ETH in just about a couple of minutes. The wallet had received 8000 ETH after it participated in the blockchain’s ICO in 2015, and remained completely inactive until 27th May. On that day, the owner started with a cautionary transfer of 1 ETH to a new wallet. A minute later, they transferred the rest of the 7,999 ETH to the new wallet address. Currently, the ETH stash has an approximate worth of $14.7 million. This transaction was first observed by Lookonchain, a blockchain analytics service, which informed 219,000 Twitter followers of the transfer. 

Ethereum Wallet That Was Dormant For Ages Has Moved Millions

After the movement from this dormant Ethereum wallet, there was some community speculation regarding the reason behind this transfer. One of the commenters suggested that the owner had been released recently from prison, while another individual made a funny remark about how they were transferring funds from an old Ledger- a marked comment about the new and controversial Recover upgrade by the company. At the time, the 8000 ETH was purchased at a price of just $0.31 per token, which would place the initial investment amount at around $2,500. 

Interestingly, this isn’t the only Ether wallet in the ICO era that has reawakened in recent months. On the 24th of April, another wallet that received 2,365 ETH made its first transaction in over eight years, with the owner managing to transfer 2,360 ETH to a completely new wallet address. On 5th March, another Ethereum wallet transferred 10,226 ETH out to a new wallet address after remaining in a period of dormancy for 5 straight years.