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Coinbase product lead Conor Grogan has raised alarms about an $8.6 billion Bitcoin transfer involving dormant wallets last active in 2011. While emphasizing the scenario remains speculative, Grogan warned this could represent "the largest heist in human history" if proven to be a security breach. The transactions occurred Thursday from eight wallets holding Bitcoin for over 14 years.
Blockchain analysts identified a curious pattern: a small Bitcoin Cash test transaction preceded the massive Bitcoin transfers by 14 hours. "Why wouldn't they sweep these?" Grogan questioned on X, noting other BCH wallets remained untouched. The unusual activity suggests either cautious wallet reactivation or potential private key compromise.
——"If true, this would rewrite cryptocurrency security history,"—— Grogan stated, while acknowledging the current evidence remains circumstantial. Blockchain firm Arkham confirmed a single entity moved the funds, now redistributed across eight new wallets without further activity.
Despite the uncertainty, Bitcoin's price showed remarkable stability, dipping just 1.02% to $108,150 post-transfer. The involved wallets originally received their Bitcoin in April-May 2011, when BTC traded below $10. This movement represents one of the largest dormant wallet activations in cryptocurrency history.
【Key Data】
• $8.6B: Total value transferred
• 14 years: Dormancy period before transfer
• 10,000 BTC: Transaction batch size
• 1.02%: Subsequent price fluctuation
The incident highlights emerging risks for early cryptocurrency adopters. While most evidence suggests legitimate wallet access, the BCH test transaction and untouched companion wallets create lingering questions. Industry experts recommend cold storage solutions and periodic wallet verification for long-term holders.
As blockchain forensic teams continue investigating, the cryptocurrency community watches for either confirmation of legitimate access or evidence supporting Grogan's "largest heist" hypothesis. The outcome could significantly impact institutional confidence in cryptocurrency storage solutions.