Could This Mysterious Miner Sell off Coins?
Earlier today a Bitcoin (BTC) wallet that has remained untouched since February 2009 has moved an amount of 9.999 BTC. The wallet apparently belonged to one of the first Bitcoin miners, possibly even the individual or individuals behind the moniker Satoshi Nakamoto or Hal Finney.
Who Is Behind the Bitcoin Wallet?
The miner received 50 BTC as a block reward for mining block 3654 on Bitcoin's blockchain. With Bitcoin's block time set to ten minutes, this essentially means the mining took place roughly two weeks after the Bitcoin network became operational.
During this time, there were very few active miners other than Nakamoto himself and his early collaborator Hal Finney. Unfortunately, Finney passed away at a relatively young age in August 2014 and Nakamoto's last public post was in December 2010.
Where Did the Bitcoin Go?
The individual behind the wallet had 50 BTC and sent the funds to 2 separate wallets. One wallet received 40 BTC and hasn't moved the BTC further. The other wallet received 9.999 BTC and forwarded it to thirty different wallets. Most have received very small amounts of Bitcoin, but one lucky wallet received 7.81 BTC. Most of the receivers have left their funds untouched, but some have sent the funds onwards to different wallets.
None of the addresses listed currently seem to be associated with known exchanges.
The somewhat bizarre nature of sending Bitcoin to a long list of addresses that forward funds to other new addresses seems somewhat reminiscent of hackers after an exchange hack. This could possibly flout the possibility that the wallet was hacked. Another possibility is that Satoshi or a mysterious early miner is moving the coins and is attempting to conceal their tracks.
If this truly is Satoshi moving the coins, it raises more questions than answers.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado