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Dormant Ethereum Wallet Awakens, Moves Millions After 8 Years

An Ethereum wallet that had been inactive since 2015 suddenly moved 8,000 ETH, worth $14.7 million, in just two minutes. The wallet had acquired the tokens during Ethereum's ICO in 2015 when each ETH was worth 31 cents. This transfer caught the attention of blockchain analytics service Lookonchain. Speculations arose regarding the reason for the transfer, including the possibility of the owner being released from prison. Similar instances of dormant ICO-era Ether wallets awakening have been observed recently. Dormant wallets with significant amounts of crypto can reactivate due to hacking or owners rediscovering and deciding to sell.

$ETH$ #eth