What Happened on April. 25th | Why So Many Long Dormant $BTC & $ETH Wallets Activated

TI Research

The sudden activity of some old wallet addresses that have been dormant for years sparked speculation in the crypto community that they are related to recent wallet theft, mainly targeting old wallets, for unknown reasons.

According to Lookonchain monitoring data, some long-dormant $BTC whale addresses have recently awakened. (Three Dormant Whales held 8,199 $BTC for over 10 years Awaken). And it is not just Bitcoin wallets, an address containing Ethereum tokens that had been dormant for 7.7 years became active in recent days. The ETH holder had taken part in the blockchain’s Initial Coin Offering [ICO].

Last week, MetaMask developer @tayvano_ stated that there have been a large number of wallet thefts exceeding 5,000 $ETH since December 2022. The only known common point is that the keys were created between 2014 and 2022. (MetaMask: Large-Scale Wallet Theft Is Not Due to MetaMask Vulnerabilities)

Some KOL speculates it may be some old wallet generators were cracked. Old wallets may use unreliable sources of "random" to generate keys, making these keys easier to be cracked.

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TI Research

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