A Bitcoin address beginning with “13Coop”, first funded on Sept. 11, 2013 and never having sent coins, moved 411.45 BTC (about $33.4 million) on Sunday in its first outgoing transfer, sending it to a new unlabeled address rather than an exchange. Galaxy Research says the coins cost roughly $54,000 when Bitcoin traded near $130, with an average cost basis around $127 and a paper gain above 64,000%. Galaxy tagged the sending address as one of 39,069 dormant addresses named in a New York lawsuit filed by a pseudonymous plaintiff, “Noah Doe,” and two Wyoming companies, which claim such wallets are abandoned property. The article notes that moving coins requires private keys, which suggests at least some targeted wallets are not abandoned, and that dormant wallets have been moving at an accelerating pace.
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