Satoshi-Era Whale’s $8B Bitcoin Transaction Possibly Linked to Upgrading Wallet Security, According to Arkham.

Satoshi-Era Whale Shifts $8B in Bitcoin Amid Security Concerns, Says Arkham

An enormous $8 billion bitcoin transfer from a long-dormant Satoshi-era whale appears to be driven by security considerations rather than any intention to sell, according to blockchain analytics firm Arkham.

Last week, eight wallets, each holding 10,000 BTC since 2011, moved their funds into new bc1q-style addresses. These modern addresses, part of Bitcoin’s native SegWit upgrade, provide better security, reduced transaction fees, and greater efficiency compared to older legacy addresses beginning with “1.”

Arkham, which flagged the transfers, reported no signs that the whale plans to liquidate the holdings. The bitcoin remains untouched in the new wallets, suggesting the move was proactive and part of operational security measures, not a response to market fluctuations.

Meanwhile, Charles Guillemet, CTO of Ledger, noted on X that the original wallets recently received OP_RETURN messages containing legal claims to the coins unless the owner responded by a specified deadline.

Although the messages sparked speculation about a possible hack, Guillemet explained that the sender never demonstrated control over private keys and had targeted many dormant wallets, not just these eight.

“It might just be coincidence,” Guillemet posted on X. “The owner of the 80,000 BTC likely saw the OP_RETURN messages and decided to move the funds as a precaution.”

He further clarified that while private keys have been compromised in the past due to poor cryptographic practices, like predictable nonces or weak random number generation, no such issues appear relevant in this case.

OP_RETURN is a feature in Bitcoin that allows users to embed short pieces of data or messages in transactions without affecting the transfer of funds.