The unknown moved 80,000 BTC worth $ 8.6 billion with eight wallets, inactive 14 years. The community discusses two main versions: hacking or planned transfer of funds by the owner.
Billionaire Bitcoin Whale Update
Yesterday’s $ 8 Billion Transfers Were Possibly Related to Address Upgrades, Moving from 1- Addresses to BC1q- Addresses.
There are no indications that this one is Selling Bitcoin. pic.twitter.com/wdk4ppkv0j
– Arkham (@arkham) July 5, 2025
First, two addresses “woke up”, each of which stored 10,000 BTC. Later, six more wallets with similar amounts showed activity.
Lookonchain analysts suggested that all eight addresses are controlled by one person or organization. Coins entered these wallets in April-May 2011.
A bitcoin og Holding at Least 80.009 $ BTC($ 8.69b) Woke up after 14+ Years of Dormancy and Transferred Out 40,000 $ BTC($ 4.35b) Today!
This Og Controls ABOUT 8 Wallets, 2 of the Which Receved 20,000 $ BTC($ 15,600 at the time, $ 2.18b now) on april 2, 2011, when the price of $ BTC was … pic.twitter.com/f8julz6ee7
– Lookonchain (@lookonchain) July 4, 2025
The movement of funds gave rise to various theories about the identity of the owner. The founder of Timechain Index under the nickname Sani believes that bitcoins belong to the early investor Roger Vera.
I BELIEVE The 80K BTC May Belong to Roger Ver. Here’s Who:
ToMetime Last Year, @Mrhodl WAS Discussing Roger and the Potential Size of His Holdings During a Twitter Space.
That Prompted Me to Dig Into His Historical Purchase Activity. I Cross-RefereNced Those Dates with My …– Sani | TimeChainindex.com (@saniexp) July 4, 2025
Last year, the latter was arrested in Spain on charges of tax fraud in the United States.
According to Sani, the transfer may be part of the deal with the US tax service, which should be correct about $ 48 million.
Coinbase Director Konor Skogan suggested that the translations are associated with hacking addresses or compromising closed keys.
Many community participants do not agree with the theory of Gill. They cite several arguments against her.
Firstly, hacking a private key to a bitcoin-wallet using modern technologies is almost impossible due to mathematical complexity.
Secondly, the hacker would not take risks by sending a test transaction to Bitcoin Cash, as this could warn the owner. Some experts consider this translation a standard procedure in large over -the -term transactions to confirm control of wallets.
Thirdly, the transfer of funds took about 10 hours. The attacker would act much faster.
The main version of ARKHAM analysts is the update of addresses. Most coins were transferred from the old Legacy addresses to modern bech32.
The technical director of Ledger Charles Guyime noted that these bitcoins dates back to 2011, when there were no modern standards like BIP39.
YesterDay, 80,000 BTC (Worth Rouchly $ 8 Billion) Were Moved On-Chain. Thuins Date Back To 2011, Before the Bip39 Standard Existed.
Back THEN, Private Keys Were Managed Individually Per Address, With No Hardware Wallet Support (Even Today). This suggests the keys was stud …
– Charles Guillemet (@p3b7_) July 5, 2025
Private keys were stored in Wallet.Dat files and signed by software wallets, which is unsafe by modern standards.
The theory of updating addresses does not explain all transactions. One of the translations of 10,000 BTC was sent to another Legacy address. The identity of the owner and the exact reasons for the movement of funds remain unknown.
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Source: Cryptocurrency
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