2013 Bitcoin Wallet Awakens With $31M Transfer as Dormant BTC Moves Surge

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A bitcoin wallet that had remained inactive for nearly 12 years transferred $31 million worth of BTC on Monday, becoming part of a broader movement of dormant coins following the Coldcard security incident.

A long-sleeping bitcoin address came back online this week, and it was not an isolated event. Several older wallets moved funds within the same period after the Coldcard exploit emerged on July 30, suggesting some long-term holders may be reassessing their storage security.

The wallet identified as 18TExP, which had been inactive since 2013, transferred 500 BTC worth approximately $31.3 million, according to blockchain monitoring platform Whale Alert. When the coins were last moved more than 12 years ago, they were valued at around $500,000.

A transfer from one wallet to another does not automatically reveal the owner’s intentions. It only indicates that someone with control of the private keys decided to move funds that had remained untouched for more than a decade.

However, the timing has drawn attention. The wallet’s reactivation occurred during an ongoing security incident involving Coldcard, a widely used Bitcoin-only hardware wallet. Some observers believe the transfer may have been a precautionary move to protect funds.

“Wallet 18TExP, holding 500 BTC ($31.27M), transferred all 500 BTC to a new wallet after more than 12 years of inactivity,” blockchain analytics firm Lookonchain said on X. The firm suggested the owner may have moved the funds due to security concerns related to the Coldcard exploit.

Since July 30, attackers have reportedly drained thousands of BTC from wallets created through certain Coldcard configurations by exploiting a vulnerability linked to firmware dating back to March 2021. Researchers at Galaxy estimate the total losses from the incident have reached around $130 million in bitcoin.

The attack has also raised concerns around self-custody security, with some analysts pointing to increased BTC deposits on exchanges over the weekend as users reconsidered wallet safety.

Dormant Bitcoin Movement Extends Beyond One Wallet

The 500 BTC transfer appears to be part of a wider increase in activity among older bitcoin holdings.

CryptoQuant data tracking spent output age bands — which measures bitcoin movements based on how long coins remained inactive before being transferred — shows a noticeable rise in activity from long-dormant wallets during the same period.

Bitcoin that had remained untouched for 10 years or longer saw around 935 BTC move on August 3, marking the largest daily movement for that category since March 20. Meanwhile, wallets holding coins dormant for five to seven years recorded a much larger spike, with approximately 6,388 BTC moved on July 31.

Older bitcoin transfers can happen for many reasons, including estate settlements, exchange wallet reorganizations, custody changes, or internal fund management, and do not necessarily indicate security concerns.

However, the timing of several large dormant wallet movements shortly after the Coldcard incident has led some market observers to believe that certain long-term holders may be proactively moving their bitcoin to newer storage solutions.

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