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Sleeping beauty Bitcoin wallets wake up after 14 years to the tune of $2B

(www.marketwatch.com)
191 points aorloff | 7 comments | 04 Jul 25 18:41 UTC | HN request time: 0.836s | source | bottom
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duttish ◴[04 Jul 25 19:26 UTC] No.44467188[source]▶
Whoever got these wallets better sell them and get a good security company on rotation quickly before anyone find out who they are. Seems like wrench attacks been been happening a lot more the last year.
replies(4): >>44467215 #>>44467241 #>>44467326 #>>44467363 #
1. sampl3username ◴[04 Jul 25 19:53 UTC] No.44467363[source]▶
You just need to swap them for monero and then monero for litecoin or bitcoin again. Now you have anonymous, untraceable coins.
replies(4): >>44467382 #>>44467815 #>>44469754 #>>44470437 #
2. onlyrealcuzzo ◴[04 Jul 25 19:55 UTC] No.44467382[source]▶
I doubt there's enough liquidity to swap that kind of money...
3. drexlspivey ◴[04 Jul 25 20:54 UTC] No.44467815[source]▶
Monero daily volume is like $50m lol
4. cedws ◴[05 Jul 25 02:45 UTC] No.44469754[source]▶
Not quite that simple, that’s vulnerable to an Eve-Alice-Eve attack. If $1B in BTC moves around in short succession the TXs can be linked easily. You need a mixer that splits up the amount to be paid out, and even then it needs to be done piecemeal.
replies(1): >>44469928 #
5. dzhiurgis ◴[05 Jul 25 03:35 UTC] No.44469928[source]▶
Do all outputs from exchange are automatically trusted? Seems like any should be tainted forever. Or is it impossible to tell whats from mixer?
replies(1): >>44469971 #
6. cedws ◴[05 Jul 25 03:51 UTC] No.44469971{3}[source]▶
There are companies (Chainalysis) that track blockchains and ‘grade’ wallets according to who they’ve transacted with. If enough of a wallet’s funds are from a mixer it may be scored a grade lower than the exchange’s KYC rules allow to do business with.
7. udev4096 ◴[05 Jul 25 06:06 UTC] No.44470437[source]▶
Someone actually did that, a few months ago. 320M in BTC was converted to monero and the price of monero increased by 50% [0]

[0] - https://slashdot.org/story/25/04/28/198238/monero-likely-pum...