Coldcard Crisis Breaks 12-Year Silence: Giant Whale Moves $31 Million in Bitcoin

A massive Bitcoin wallet that had remained dormant for nearly 12 years has moved its assets worth $31.27 million to a new address following the Coldcard security crisis.

Another rare on-chain event has occurred in the cryptocurrency world, and a sleeping giant has awakened. An investor known by the wallet address 18TExP transferred 500 Bitcoin (BTC) assets, which they hadn’t touched for exactly 12 years, to another wallet in a single transaction. The underlying reason for this move is thought to be the Coldcard hack and related security concerns that have been dominating the agenda recently.

According to data shared by the on-chain data analysis platform Lookonchain, the transaction in question was completed recently. Examining the shared data reveals that this wallet acquired 500 Bitcoins 12 years ago for just $509.83 thousand. Today, the total value of these assets has reached $31.27 million. The sudden movement of this wallet, which has remained silent for over a decade, has sparked great curiosity among market followers.

Coldcard Security Crisis and Investor Behavior

The timing of this transfer is directly linked to the Coldcard security breach experienced in the cryptocurrency community. In this process, where significant total losses occurred and many addresses were affected, old whales holding large amounts of assets are prioritizing their security. The investor moving their assets to a new address instead of selling them shows that the perception of risk in self-custody (personal wallet management) is changing.

While such large and old wallet movements usually create concerns about selling pressure in the market, the current situation is seen more as a security measure. Nevertheless, the relocation of assets that have been waiting for over a decade was recorded as a development that could affect the psychological balance in the market. Experts emphasize that such moves stem from updates in individual security strategies and that investors are in an effort to protect their assets.