Dormant Wallet Comes Alive After Long Years Moving ETH Worth $14.7 Million

Ethereum Dormant

An Ether wallet that has been idle since 2015 has resurfaced, successfully transferring eight thousand Ether in under two minutes. The owner of the wallet received 8,000 ETH for participating in Ethereum’s ICO (initial coin offering) in 2015, however, the wallet remained inactive until May 27.

Initially the owner, out of an abundance of caution, moved 1 ETH to a different wallet. A further 7,999 ETH were sent to the new address a minute later. At this point, the ether hoard is thought to be worth about $14.7 million. The blockchain analytics startup Lookonchain noticed and highlighted the transaction.

Massive ROI Gained

At the time of purchasing, one token cost around $0.31, therefore the first investment was around $2,500. At today’s $1,917 price, the owner has generated a profit of 590,000 percent.

It’s not the first time an old Ether wallet has been reactivated from the ICO era. On April 24, the owner of another wallet made their first transaction in more than eight years, sending 2,360 ETH to a separate address. This amounted to almost $4.5 million in today’s rate.

A dormant ETH wallet moved about $19.6 million, or 10,226 ETH, to a separate wallet address on March 5. In addition, there is very little transaction history associated with the fresh wallet address.

The new wallet recorded an incoming transaction in the amount of 207 ETH ($380,000) only a few minutes before the most recent transfer. The additional 207 ETH had been sitting idle in a separate wallet since June 12, 2017.

Siddharth Chaturvedi