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An Unknown User Transfers 11,325 BTC After 7 Years

ByLouis Adams

Mar 31, 2022 #Bitcoin
Reading time: < 1 minute

Several addresses containing 11,325 Bitcoins, currently valued at more than $536 million, started to move last night. The entire amount was moved from 11 to 666 addresses, with an average of 17 Bitcoins per address.

Whale Alert, a popular cryptocurrency tracking service, has linked this amount to the Cryptsy hack, which took place in 2014. The movement of funds has been unveiled on Twitter by the company. Then 13,000 Bitcoins were withdrawn. Also, 300,000 litecoins, valued at more than $2.5M were stolen.

The United States Department of Justice indicted the founder of Cryptsy in January accused of stealing bitcoins as well as money laundering through black schemes from 2013 to 2015.

On the night of March 10,489 Bitcoins were withdrawn from an address that had not been active for 11 years. The investor who bought Bitcoins in 2010 spent $50 on them. Back then, 1 Bitcoin was worth less than $1. To date, his assets are worth about $20 million.