The Mystery of the $1M Bitcoin Round Trip
4 Articles
4 Articles
A mysterious Bitcoin owner reactivated a wallet after nearly 12 years, sent around 20 BTCs to a large custodian, recovered almost the same amount three weeks later and, seven weeks later, deliberately destroyed the coins. The movement is part of a larger enigma involving 107 BTCs burned in May and five wallets apparently controlled by the same person.
Why an Early Bitcoin Holder Burned $1M: Mystery Explained
In March, an almost-dead Bitcoin wallet suddenly resurfaced and moved about $1 million worth of BTC through a large centralized custodian—only for nearly the same amount to be sent back three weeks later. Less than two months after that brief “round trip,” the same stash was intentionally destroyed by sending it to an unspendable address. The episode sits within a broader puzzle highlighted by blockchain researchers: multiple BTC-burning transac…
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