A 12-year-old untouched Bitcoin address has finally broken its silence. The old wallet, identified by the address 18TExP, suddenly moved its entire balance of 500 BTC on Monday. Based on market prices at the time of the transaction, the value of the transfer reached $31.27 million - or equivalent to Rp500 billion. This sudden maneuver was recorded on the blockchain just an hour before the analysis report from the @lookonchain account was released to the public.
The asset movement from the 2014 era caught attention due to the motive behind it. According to Lookonchain’s analysis, this step was not a typical profit-taking action by a whale, but rather an evacuation. The wallet owner moved their funds following widespread news of a large-scale security exploit targeting Coldcard hardware wallet users.
Widespread $114 Million Exploit
The fear prompting the movement of this old wallet is well-founded. Recent hacking attacks on the Coldcard system have harmed many parties. The estimated loss from this exploit has reached $114 million. The attack was not centralized on a single point, but rather succeeded in draining thousands of addresses that users had previously believed to be secure.
The scale of the breach spreading to thousands of wallets was quickly responded to by market veterans. The owner of the 18TExP address minimized risk as quickly as possible. Instead of leaving their assets exposed to security vulnerabilities, they transferred the entire 500 BTC to a new wallet deemed immune to the risk of chain theft.
Panic Among Long-Term Holders
The movement of this 500 BTC highlights the real impact of hardware wallet vulnerabilities. The panic has apparently spread to long-term holders. A wallet that has been inactive for more than a decade finally had to move to avoid technical threats.
Those holding Bitcoin since 2014 are well-accustomed to the boom-and-bust cycles of the market. The Rp500 billion remained in the same place through various crises. However, a single loophole in the storage infrastructure was enough to trigger the asset transfer. This proves that security vulnerabilities in the system are far more worrying for long-term holders than mere price fluctuations.
Reported by @lookonchain on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
