Dormant Bitcoin Wallet From 2013 Suddenly Moves $31 Million Amid Coldcard Security Scare

A bitcoin wallet that had sat untouched since 2013 moved its entire holding of 500 BTC, worth roughly $31.3 million, on Monday. The wallet, labeled 18TExP by on-chain trackers, held coins that were worth just about $500,000 when they were last touched nearly 13 years ago. The transaction was first spotted by blockchain tracking service Whale Alert.

Timing Points to Security Concerns

While a single wallet moving funds doesn’t reveal much on its own, the timing has drawn attention. The transfer occurred in the middle of an ongoing security crisis tied to Coldcard, a widely used Bitcoin-only hardware wallet. Blockchain analyst Lookonchain suggested the wallet owner likely relocated funds to a fresh address out of caution following the Coldcard breach.

Coldcard Exploit Drains Millions in Bitcoin

Since July 30, attackers have been exploiting a vulnerability in Coldcard-generated wallets that traces back to March 2021, draining thousands of BTC from affected users. Researchers at Galaxy estimate total losses so far at approximately $130 million. The incident has also pushed some bitcoin holders to move funds onto exchanges, reflecting shaken confidence in self-custody security.

Broader Pattern of Old Coins Moving

Data from CryptoQuant tracking coin dormancy shows a notable spike in old-coin activity around the same period. Coins untouched for ten years or more saw about 935 BTC move on August 3, the largest single-day figure since March 20. Coins dormant for five to seven years saw an even bigger jump, with roughly 6,388 BTC moving on July 31.

Analysts note that old coins can shift for many unrelated reasons, including estate transfers or exchange consolidations. Still, the clustering of large, long-dormant movements right after the Coldcard incident suggests a wave of holders proactively securing their funds.