Nearly $1 Billion Worth of Bitcoin was Moved from an Old Bitcoin Wallet

About $1 billion worth of bitcoin was transferred from an old bitcoin mysterious wallet that has been quiet since 2013.

Alon Gal, co-founder and CTO of the security firm, Hudson Rock, was one of the first if not the first to report the transaction.

In a couple of tweets, he said more than 69,369 BTC worth about $975 million as at the time the tweet was put out was moved within 24 hours, according to bitcoin ledger.

“UNBELIEVABLE,” he wrote. “Someone was able to crack the password of the bitcoin wallet I reported on only a short time ago and spend the $1,000,000,000 that was inside it!”

UNBELIEVABLE – Someone was able to crack the password of the Bitcoin wallet I reported on only a short time ago and spend the $1,000,000,000 that was inside it!https://t.co/cEcdGcYzfI pic.twitter.com/XfBbkj1mHJ

— Alon Gal (Under the Breach) (@UnderTheBreach) November 3, 2020

Alon Gal further explained that it was either the original owner who may have noticed the recent articles circulating on the wallet among hackers or the person who eventually cracked the wallet password that moved the bitcoin.

It was either the person who cracked the password or the original owner who may have noticed the recent articles about his wallet being circulated among hackers.

The wallet was considered "dormant" since 2013.

Either way this is pretty interesting.

— Alon Gal (Under the Breach) (@UnderTheBreach) November 3, 2020