Dormant Bitcoin Wallet Moves $188M After Nearly 7 Years

Onchain Lens, citing Arkham data, shows an address labeled 356my…BAsmK sent 2,931 BTC to an unmarked address shown as bc1qn…8gp25 at about 3:41 p.m. ET on Sunday. The recipient address has not spent or redistributed the funds since the transfer.

The originating wallet last recorded activity on Oct. 23, 2018, when bitcoin traded near $6,475. At the time of Sunday’s transfer, bitcoin was trading near $63,376, meaning the holding’s dollar value increased roughly tenfold since the last activity.

The transaction is visible on the public Bitcoin ledger and has been identified by on-chain analysts. The transfer amount converts to about $188 million based on prevailing market prices at the time of the move.

Large, long-dormant transfers are tracked by blockchain analysts because they involve substantial quantities of bitcoin and are readily verifiable on the ledger. The recipient address in this case has remained inactive since receiving the coins.

Similar reactivations of aged wallets have occurred in recent years. In July 2025 a single wallet moved more than $8.7 billion worth of bitcoin after about 14 years of inactivity.

On-chain analytics identify and label addresses by following transaction histories and address clusters. Because bitcoin transactions are public, the timing, amounts and addresses involved in this transfer can be checked by anyone with access to the blockchain.

Market participants continue to monitor whether the recipient address will move the funds again or leave them idle.