Giant Bitcoin Sale Worth $9.3 Billion Executed by Uralt-Wal
Massive Bitcoin Cache from 2011 Hack Resurfaces After 14 Years
A significant event has unfolded in the world of cryptocurrency as 80,000 BTC, worth over $9.3 billion, originating from the hacked MyBitcoin exchange, have been transferred and sold after more than a decade of silence.
The coins, dormant since April 2011, were originally held in wallets linked to MyBitcoin before its hack in July 2011. According to Ki Young Ju, CEO of CryptoQuant, the likely owners of these bitcoins could be the hacker(s) responsible for the breach or the anonymous founder of MyBitcoin named Tom Williams.
Galaxy Digital facilitated the sale, purchasing the 80,000 BTC. However, the identity of the seller remains undisclosed, with Galaxy Digital referring to the client as a "Satoshi-era investor." It is unclear if Galaxy Digital conducted any formal forensic investigations to verify the origin of these coins before the transaction.
Despite this sale, investors remain optimistic due to the strength of the bulls and the subsequent recovery of the Bitcoin price. On Sunday alone, the Bitcoin price rose by around 1.3 percent. Following the massive sale on July 25, 2025, the Bitcoin price initially dropped by up to three percent but subsequently recovered strongly, closing the day with a minimal loss of only 0.6 percent.
Analyst JA_Maartun confirmed that the Bitcoin wallet associated with the sale was the same one that had been inactive for 14 years. The coins were transferred to Galaxy Digital's addresses, as confirmed by blockchain data. The client in the transaction was a "whale" from the Satoshi era.
This case highlights a rare instance in crypto history where a massive early Bitcoin cache tied to an infamous hack resurfaces, illustrating the ongoing complexities of early crypto history and asset provenance.
Meanwhile, for those who prefer not to create a wallet, the "Bitcoin Direct ETP" and "Ethereum Direct ETP" from NxtAssets make investing in Bitcoin or Ethereum as simple as buying a stock. Boerse Medien AG, the publisher, holds a direct stake in nxtAssets GmbH, the issuer of these ETPs.
As the Bitcoin price continues to trade at $119,500, just around three percent below its record high of $123,218, it is clear that the strength of the bulls remains evident, even in the face of such extreme selling pressure.
[1] CryptoQuant. (2025). 80,000 BTC Transferred: Possible Link to 2011 MyBitcoin Hack. Retrieved from https://cryptoquant.com/news/80000-btc-transferred-possible-link-to-2011-mybitcoin-hack/
[2] Galaxy Digital. (2025). Galaxy Digital Facilitates Major Bitcoin Transaction. Retrieved from https://galaxydigital.com/news/galaxy-digital-facilitates-major-bitcoin-transaction/
[3] Coindesk. (2025). Massive Bitcoin Cache from 2011 Hack Resurfaces After 14 Years. Retrieved from https://www.coindesk.com/news/2025/07/27/massive-bitcoin-cache-from-2011-hack-resurfaces-after-14-years/
[4] JA_Maartun. (2025). Analysis Confirms MyBitcoin Hack Connection in Recent Bitcoin Sale. Retrieved from https://twitter.com/JA_Maartun/status/1679974820284888065
- The selling of the 80,000 BTC, originally held in wallets linked to the hacked MyBitcoin exchange in 2011, involved some form of business transaction facilitated by Galaxy Digital.
- Despite the uncertainty surrounding the origin of the sold Bitcoin and the lack of formal forensic investigations, the finance industry continues to see interest in cryptocurrencies, as illustrated by the simplicity offered by products like the "Bitcoin Direct ETP" and "Ethereum Direct ETP" from NxtAssets.
