Ghost of MyBitcoin Hack? Galaxy Brokered Whale Sale Stirs Satoshi-Era Theories ⋆ ZyCrypto
The post Ghost of MyBitcoin Hack? Galaxy Brokered Whale Sale Stirs Satoshi-Era Theories ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     In a landmark transaction, Galaxy Digital has facilitated the sale of over 80,000 Bitcoin—valued at approximately $9.7 billion—on behalf of a long-dormant investor. This unprecedented move has reignited speculation about the origins of these coins, with some analysts linking them to the infamous 2011 MyBitcoin exchange hack. The sale, executed between July 18 and July 25, 2025, involved Bitcoin that had remained untouched since the early days of the cryptocurrency, prompting discussions about its potential ties to early Bitcoin-era activities. The sale was conducted through Galaxy Digital, a prominent cryptocurrency investment firm, which acted as an intermediary for the investor’s estate planning purposes. The transaction was meticulously executed, with each recipient address receiving a single satoshi—a symbolic gesture that has captured the attention of blockchain analysts. Advertisement   Despite the scale of the sale, Bitcoin’s price experienced only a brief dip, stabilizing around $117,000 shortly after the transaction was completed. On-chain analysis has traced the origins of the sold Bitcoin to wallets associated with the now-defunct MyBitcoin platform, which was compromised in a significant hack in 2011. These findings have led some experts to speculate that the coins involved in the sale may have been stolen during the hack and subsequently held in cold storage for over a decade. While Galaxy Digital has confirmed the sale, the firm’s spokesperson declined to comment on the specific origins of the Bitcoin involved. Market Reactions and Speculations The sale has prompted a range of reactions within the cryptocurrency community. Some analysts view the transaction as a sign of increasing institutional maturity, noting that the market absorbed the sale without significant disruption. Others, however, express concern over the potential implications of releasing such a large quantity of Bitcoin into circulation, particularly if the coins were initially acquired through illicit…
The post Ghost of MyBitcoin Hack? Galaxy Brokered Whale Sale Stirs Satoshi-Era Theories ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement In a landmark transaction, Galaxy Digital has facilitated the sale of over 80,000 Bitcoin—valued at approximately $9.7 billion—on behalf of a long-dormant investor. This unprecedented move has reignited speculation about the origins of these coins, with some analysts linking them to the infamous 2011 MyBitcoin exchange hack. The sale, executed between July 18 and July 25, 2025, involved Bitcoin that had remained untouched since the early days of the cryptocurrency, prompting discussions about its potential ties to early Bitcoin-era activities. The sale was conducted through Galaxy Digital, a prominent cryptocurrency investment firm, which acted as an intermediary for the investor’s estate planning purposes. The transaction was meticulously executed, with each recipient address receiving a single satoshi—a symbolic gesture that has captured the attention of blockchain analysts. Advertisement Despite the scale of the sale, Bitcoin’s price experienced only a brief dip, stabilizing around $117,000 shortly after the transaction was completed. On-chain analysis has traced the origins of the sold Bitcoin to wallets associated with the now-defunct MyBitcoin platform, which was compromised in a significant hack in 2011. These findings have led some experts to speculate that the coins involved in the sale may have been stolen during the hack and subsequently held in cold storage for over a decade. While Galaxy Digital has confirmed the sale, the firm’s spokesperson declined to comment on the specific origins of the Bitcoin involved. Market Reactions and Speculations The sale has prompted a range of reactions within the cryptocurrency community. Some analysts view the transaction as a sign of increasing institutional maturity, noting that the market absorbed the sale without significant disruption. Others, however, express concern over the potential implications of releasing such a large quantity of Bitcoin into circulation, particularly if the coins were initially acquired through illicit…
What's Your Reaction?
