Six long-dormant Bitcoin wallets have transferred 553.59 BTC worth $40.15 million after remaining inactive for periods ranging from nearly 12 years to more than 15 years.
Six Wallets Move Over 10 Days
Galaxy Research tracked the six movements from wallets dating to 2011, 2012, and 2014. Beginning on Aug. 16, the first wallet transferred 8.54 BTC after remaining inactive since June 13, 2011. Galaxy valued the holdings at about $538,000 when they moved, compared with an estimated acquisition price of around $14 per coin. Using the difference between the historical and transfer prices, the holdings had gained about 461,981%.
Two days later, a wallet last active on Aug. 10, 2012, transferred 212 BTC worth approximately $13.66 million. The address carried the label connecting it to a New York lawsuit involving thousands of dormant Bitcoin addresses. At an estimated historical price of $12 per BTC, the position had risen by roughly 557,640% when it moved. This movement echoes the broader pattern of old Bitcoin wallets becoming active in 2026.
Three 2011 Addresses Move $10.37 Million
On Aug. 22, a cluster of three addresses dating to 2011 transferred a combined 132.31 BTC worth approximately $10.37 million. One address moved Bitcoin valued at $4.45 million, representing a potential gain of about 629,068%. A second address transferred roughly $404,000 after its estimated value rose by 625,826%. A third address accounted for $5.51 million, with holdings appreciating by approximately 807,639% based on an estimated original Bitcoin price of about $10.
On Aug. 26, the sixth wallet sent 40 BTC after remaining inactive since May 28, 2012. The transaction directed the holdings to an address labeled Boerse Stuttgart Digital, a German provider of crypto custody and trading infrastructure. The transfer to a custody provider does not by itself show whether the owner planned to sell. This movement of seized or dormant Bitcoin parallels the US government's recent transfer of Alameda-linked Bitcoin, highlighting the ongoing movement of old Bitcoin holdings.
New York Case Challenges Dormant Bitcoin Ownership
Two of the latest six wallets appear in a New York Supreme Court case brought by a pseudonymous plaintiff identified as Noah Doe and two Wyoming entities. The lawsuit seeks control of 39,069 dormant addresses under Article 7-B of New York's Personal Property Law, which covers lost property. The targeted addresses reportedly held about 3.7 million BTC when the complaint was filed.
In July, the plaintiffs dropped 44 wallets after they became active following the filing. Galaxy Research head Alex Thorn said the removed addresses held 21,443 BTC when the lawsuit began. They later moved 46,334 BTC. Every single one had moved coins onchain since the case was filed, Thorn said. The large-scale movement of dormant Bitcoin also has market implications, as analyzed in the Bernstein Bitcoin price forecast noting 59% of supply unmoved in 12 months.
Security Concerns May Explain Some Activity
Separate concerns about hardware-wallet security have also prompted long-term holders to move Bitcoin. A firmware flaw affecting certain Coldcard devices led attackers to reconstruct weak seed phrases and drain Bitcoin beginning in late July. Galaxy estimated in early August that attackers had stolen about $114 million from vulnerable wallets, though 87% of the stolen Bitcoin remained unmoved. No public evidence directly connects four of the latest six wallets to a compromised device.
