Satoshi Nakamoto’s wallet reappeared in the movement of 1.17 million dollars

In the early hours of January 5th, a surprising Bitcoin transaction linked to Satoshi Nakamoto's wallet sparked conversation in the community.

An anonymous user has sent 26.9 BTC worth $1.17 million to a Genesis wallet, the first ever created on the Bitcoin network. This transaction has raised curiosity and speculation in the crypto space, as the funds are irreversible.

Secret Bitcoin transaction to Genesis Wallet

The sender started the transfer from a now empty wallet and the transaction fee was fixed at $100, which is higher than the average transaction fee seen on the Bitcoin network. Investigating the origins of the wallet showed money moving from three wallets to 12 other wallets before reaching the Genesis wallet.

In particular, a significant part of the money can be found in a wallet connected to Binance. Arkham Intelligence, a blockchain analytics platform, identified most of the funds generated by this Binance-related wallet.

The Genesis wallet holds a special place in Bitcoin history, being the first wallet created on the network. It was founded by the mysterious inventor of Bitcoin known as Satoshi Nakamoto.

The Genesis wallet, which originally contained 50 mined bitcoins, received a cash boost from the global Bitcoin community on its anniversary, pushing its balance to 72 bitcoins by 2023. The latest transaction has boosted it significantly to 99.67 bitcoins, now valued at $4.3 million. .

Is Satoshi Nakamoto active?

Nakamoto not only created the secret cryptography, but also mined several blocks in the early days of the network. The exact number of blocks mined by Nakamoto is uncertain.

Although Nakamoto theorized that he could still possess the private keys to access the Genesis wallet and other related wallets, experts suggest that such a scenario is highly unlikely. After Nakamoto's unexplained disappearance in December 2010, there has been no movement in funds linked to Nakamoto, including those in Genesis Block.

Coinbase director Connor Grogan said on X (formerly Twitter) that the transaction could be Nakamoto reforming and transferring BTC from Binance or an individual who sacrificed more than $1 million. The exhibit also suggested that this could be a form of ETF trading.