An “old Bitcoin wallet”, inactive from 2014, moved all it’s funds in small chunks in a automated way.

Some comments says that it’s scheduled Coinbase maintenance across their platform https://blog.coinbase.com/notice-of-blockchain-movements-b09cb1ec46dd but when you take a closer look at transations it does not look like it.

Below, please se a short break down & analysis of what happened.


Primarily — its an old wallet, not touched since 2014. Also, whats the point in watering down 66k of Bitcoin? See graph below — it shows wallet transactions & amount held till now:

Ait it’s peak, between 2014 till yesterday, wallet held over 66k of Bitcoin. Please see:

https://www.blockchain.com/charts/balance?address=1EBHA1ckUWzNKN7BMfDwGTx6GKEbADUozX&timespan=all

66k of Bitcoin was initailly watered down to 90 ‘ish addresses, receiving approx 660btc each. See graph below:

Please follow transaction tree here:

https://www.blockchain.com/btc/tree/394507565

As we can see, it was watered down even further, if you have patience you can follow transaction trail. Some of addresses can’t be followed (Segwit).

It’s quite possible that address was hacked.

  • No movement from 2014 till today
  • Automated way of sending funds
  • funds watered down to smaller amounts

What will happen now? If it was hacked, we suspect that all funds will be CASHED OUT into FIAT all over the world (which feels like sensible option due to watering down). It’s quite unlikely that it will be used for price manipulation, as more value will come with slow sales (changes to FIAT) without current value loss, instead of big price dump.

https://cryptonerd.io/66233-btc-moved-watered-down-from-old-wallet/