107 Dormant Bitcoin Sent to Burn Address in $8.3M Onchain Mystery
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On May 25 five wallets moved 107 BTC (about $8.3 million) that had been dormant for roughly 11 years to Bitcoin’s well-known burn address. The burn address now holds more than 807 BTC (about $60 million), sparking on-chain scrutiny over whether the transfers were intentional destruction, an accidental loss, or another planned action and suggesting a modest supply-reduction impact on crypto markets and on-chain security concerns.
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- Five wallets sent 107 BTC to Bitcoin’s known burn address on May 25.
- The coins had remained dormant for roughly 11 years before the transfers.
- The burn address now holds more than 807 BTC, worth about $60 million.
A long-dormant Bitcoin holder has permanently destroyed 107 BTC, worth about $8.3 million, after sending the coins to one of Bitcoin’s best-known burn addresses. The move took place on May 25 and immediately drew attention across on-chain research circles.
Notably, the coins came from wallets that had stayed inactive for more than a decade. Their sudden movement has raised questions over whether the owner intended to destroy the funds, made a costly error, or carried out another planned action that remains unclear.
Dormant Bitcoin Moves After 11 Years
Blockchain data showed five wallets sending a combined 107 BTC to the address “11111111111111…
Read The Full Article 107 Dormant Bitcoin Sent to Burn Address in $8.3M Onchain Mystery On Coin Edition.
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