Galaxy Research tracking data shows that six dormant Bitcoin wallets from 2011, 2012, and 2014 transferred a total of 553.59 BTC, worth approximately $40.15 million, between August 16 and 26. The earliest batch of coins was purchased in June 2011, when the price was about $14, and their value has since increased over 460,000 times; the most recent wallet transferred 40 BTC to the German crypto custody bank Boerse Stuttgart Digital, with profits reaching up to 1.53 million times.

Among the six wallets, two are labeled “Salomon Client Dusted,” associated with the pseudonymous plaintiff Noah Doe. Noah Doe filed a lawsuit in the New York Supreme Court, requesting the court to declare 39,069 dormant Bitcoin addresses as unclaimed property under the state’s lost property law, and to deliver notice by sending dust transactions to thousands of wallets. Additionally, the panic transfers triggered by the recent Coldcard hardware wallet vulnerability incident are also seen as one of the possible reasons for the awakening of old wallets.