Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BLOCKCHAIN NEWS»An unidentified wallet sent $1.2 million in BTC to Satoshi Nakamoto.
BLOCKCHAIN NEWS

An unidentified wallet sent $1.2 million in BTC to Satoshi Nakamoto.

By Crypto FlexsJanuary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
An unidentified wallet sent .2 million in BTC to Satoshi Nakamoto.
Share
Facebook Twitter LinkedIn Pinterest Email

An unidentified individual began trading on January 5, depositing 26.9 BTC, worth approximately $1.19 million, into the Genesis wallet. The Genesis wallet is the first wallet created on the Bitcoin (BTC) network by a pseudonymous entity known as Satoshi Nakamoto.

This transaction took place at 1:52 a.m. ET, two days after Bitcoin celebrated its 15th anniversary, and attracted attention because it was impossible to retrieve.

Arkham Intelligence, an on-chain analytics platform, reported that before depositing Bitcoin into the Genesis wallet, the owner of the mysterious wallet funded it through complex transactions involving various addresses.

Source: Arkham Intelligence

Arkham Intelligence also said it traced most of the funds to wallets believed to be owned by Binance.

Just before the transfer to the Satoshi Nakamoto wallet, the mysterious sender withdrew nearly 27 BTC from the Binance exchange, with only these two transactions recorded in the wallet’s activity log.

Given that cryptocurrency exchanges like Binance are required by law to undergo strict KYC procedures, some believe that the identity of individuals who transferred to Nakamoto Wallet could potentially become known to the Binance compliance team.

In response to the news, Coinbase director Conor Grogan humorously commented, “Either Satoshi woke up and bought 27 bitcoins on Binance and deposited them into his wallet, or someone just burned a million dollars.”

Known as the brainchild of pseudonymous Bitcoin inventor Satoshi Nakamoto, the Genesis Wallet has been accumulating mainly minor dust transactions since its launch on January 3, 2009.

Although it is theoretically possible that Nakamoto still holds the private keys to this wallet and can transfer funds, the common belief is that this is highly unlikely.

Evidence supporting this belief is that funds in Nakamoto-related wallets, including funds from the Genesis block, have not moved since the Bitcoin inventor’s disappearance in December 2010.

Initially, when Nakamoto disappeared, his Genesis wallet contained 50 BTC. However, over the years, funds have been flowing into the wallet, reaching 72 BTC by the end of 2023. This latest transaction brings the wallet balance to approximately 99.68 BTC, which at current exchange rates is equivalent to approximately $4.3 million.

Cryptocurrency enthusiasts have come up with several theories about this unexpected transaction.

Some believe this is a tribute to the creator of Bitcoin, considering it happened two days after Bitcoin’s 15th anniversary. Others speculate that this could have been a huge financial mistake or a costly public relations move.

At the same time, some perceive this as an attempt to create euphoria ahead of the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin ETF.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Bitcoin protection zones, Stablecoin regulations are the main drivers.

June 5, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025

As the ETF rises, Bitcoin Eye Major Rally -but this can ruin the party.

June 6, 2025

Secure the Treasury in the BNB chain and launch VANECK

June 6, 2025

Use Sunny Mining Cloud Mining to earn $ 12,000 a day

June 6, 2025

Investors are the main level of support of the eyes.

June 6, 2025

Encryption Inheritance Update: April 2, 2025

June 6, 2025

Defi, not MICA II at the front line

June 6, 2025

Improve video content with VEO 3: Comprehensive guide to effective prompt

June 6, 2025

Is the trump Fuel Fuel Dogecoin in ELON Musk less than $ 0.10?

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025
Most Popular

Morgan Stanley Reveals $187 Million Investment in BlackRock’s Spot Bitcoin ETF, GBTC Selloff Set for Q2

August 15, 2024

FANTOM: If FTM supports this level, it can be $ 0.85 next.

February 18, 2025

Ethereum Foundation internal updates | Ethereum Foundation Blog

April 18, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.