According to Whale Alert, a tracker of large transactions of cryptocurrencies from wallets to exchanges, a Bitcoin address that has been inactive for 11.4 years has just been activated.
According to the report, the dormant address contains 486.091 BTC worth $50 in 2010. It is worth noting that the BTC stash is now worth $20.2 million at current prices.
The address 17QBWJCGV4QbQhLbhcS7d9yB2S7DPLf4N9 was used to move the stashed BTC to a new, unknown address 1LdJ4nyxrJqNB1oyr76rYerb2KDZk9
Someone just reactivated an address containing 489 bitcoins. This is worth $20.2 million today, but it was only worth $50 in 2010.
Members of the crypto community responsed
The news was widely reported, and people had a lot to say about it. The wallet’s owner showed exceptional bravery by keeping such a large sum for over a decade.
This guy just made a huge investment return. It is only comparable to investments in .com domains that sold for millions.
Others felt that the wallet has been successfully hacked after numerous tries, while others claimed the owner of the wallet just emerged from a lengthy prison sentence or that quantum computers have begun to crack open wallets.
Someone got out of jail? OR, Quantum computers are cracking wallets that have been inactive for a long time?
Someone said that they are afraid that quantum computers are already starting to crack the wallets of people who have not used their cryptocurrencies in a while. They hope this will not become a trend. It is quite scary to think about.
No matter what, this is a lesson for all crypto investors. If you hold the flagship crypto, Bitcoin (BTC), for a long time, it might turn out to be a great investment decision. But who can leave such a huge amount in a wallet for that long?