Wallet security upgrades could be the reason that long-dormant Satosiera wallets have moved over $8 billion in Bitcoin
On-chain data shows eight wallets that have held 10,000 BTC since 2011 have moved their funds to the latest BC1Q style addresses. This is a safer and more efficient format than the older legacy 1-Prefix addresses.
Billionaire Bitcoin Jira Update
Yesterday’s $8 billion transfer could have been related to an address upgrade that would move from one address to a BC1Q address.
There is no indication that this whale is selling bitcoin. pic.twitter.com/wdk4ppkv0j
– Arkham (@arkham) July 5, 2025
The new address is a native segmentwit format that offers lower fees, improved trading efficiency, and strong protection against certain types of exploits.
Arkham, who flagged the move, said there was no evidence that the whales were selling Bitcoin. The funds remain untouched in new wallets, suggesting that the move is proactive and likely to be part of a broader operational security measure rather than responding to market activity.
Meanwhile, ledger CTO Charles Gillemet flagged X that certain op_return messages sent to those wallets showed legal notices targeting those wallet owners.
A few days before the transfer, the old wallet received an Op_return message claiming legal possession of the coin unless the owner responded at a set deadline.
While some were afraid of hacking, Guillemet noted that the sender did not prove private key access, saying that he targeted not only these eight but many dormant wallets. Timing suggests that the original owner may have been surprised by the message and may have acted preemptively to reaffirm control.
“In the past, private keys have been compromised due to insufficient encryption practices, such as predictable non-se use and low-quality random number generators, but that doesn’t seem to apply here,” Guellemet said in the X-Post.
“Pure coincidence: the timing may be random. The actual owner of 80,000 BTC saw the Op_return message and moved the funds as a precaution,” he added alongside other observations.
Interesting alpha about the 80,000 BTC transfer that occurred two days ago:
A few days before the eight forwardings ($800 million forwarding) of 10,000 btc each, someone sent a message to the corresponding eight addresses using the OP_Return field. Included messages:
– “Legal notice:…
-Charles Guillemet (@p3b7_) July 7, 2025
Op_return is a Bitcoin function that allows users to attach short messages or data to transactions without affecting the actual coin transfer.
Read more: Secret Bitcoin Cash Test may be ahead of the $800 million BTC Movement
