RATE Group | The $800 million Bitcoin wallet no one wants to touch
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The $800 million Bitcoin wallet no one wants to touch

17 Feb The $800 million Bitcoin wallet no one wants to touch

Posted at 19:20h in Bitcoin News by

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In brief

  • Nearly 80,000 BTC was stolen during the famous Mt. Gox hack in 2011.
  • That amount of BTC is worth more than $800 million by today’s prices.
  • But no one has touched it since it was stolen.
  • Experts suggest it’s not impossible to move the money and avoid detection.

A Bitcoin address containing nearly 80,000 BTC—supposedly originating from the first Mt. Gox hack—has remained untouched for over nine years. The funds are deemed “high risk,” according to experts, making them difficult to cash out. So, with the world’s eyes firmly on the notorious prize, one question lingers: Will these funds ever be moved?

 

For over nine years, the Mt. Gox debacle has hung like a dark cloud over the crypto industry. At the beginning of 2011, the now-defunct exchange was responsible for a massive 70% of Bitcoin’s global trade volume. A few months later, it brought the cryptocurrency to its knees. 

According to official reports, hackers used a compromised Mt. Gox admin account to crash…

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