Ledger's Chief Technology Officer Exposes Info on 80,000 Bitcoin Transactions

Ledger's Chief Technology Officer Exposes Info on 80,000 Bitcoin Transactions

In a recent development that has sent ripples through the crypto community, approximately 80,000 Bitcoin (BTC) worth around $8.6 billion were transferred from dormant wallets dating back to the early days of Bitcoin, known as the Satoshi era. The transfer, which occurred without any apparent selling, has been accompanied by a mysterious "legal notice" sent to these wallets before the transfer.

## Background

The eight wallets in question have been inactive since 2011, holding a significant portion of the total Bitcoin supply. These wallets, known as Satoshi-era wallets, are named after Bitcoin's pseudonymous creator, Satoshi Nakamoto.

## The Transfer

The funds were moved from legacy addresses to more modern, secure bc1q-style addresses, a move believed to enhance security and prepare for potential quantum computing threats. Remarkably, the funds remain untouched in the new wallets, suggesting the move was a proactive security measure rather than a response to market conditions.

## The Legal Notice

A few days before the transfer, the wallets received an enigmatic message via the OP_RETURN field, stating a "legal notice" claiming the sender had taken possession of the wallets, considering them abandoned. The message issued a challenge to prove the wallets had active owners by making an on-chain transaction using their private keys by September 30.

## Implications

The notice and subsequent transfer have fueled speculation about the ownership of the wallets. If the owners respond to the challenge, it could clarify the ownership status, but if not, it might raise questions about the legality of the transfer.

Charles Guillemet, Ledger's chief technology officer, has addressed the crypto community regarding the recent transfers. He revealed that before these transfers, the Bitcoin addresses received a mysterious message of legal notice, claiming that the sender had taken possession of the wallets. Guillemet suggested that the timing of the message may be random, or the real owner of the wallets saw the message and withdrew their dormant Bitcoin as a precaution.

The sender of the legal notice did not reveal their identity and the message was not related to any specific cryptocurrency exchange or platform. Some of these addresses might have a dubious origin, and someone is trying to fabricate a narrative of hacking to avoid proving the legitimate source of the funds, according to Guillemet.

The digital wallets in question were not hacked, according to Guillemet. If no owner responds by October 5, 2025, the sender of the legal notice intends to expropriate the Bitcoin from these wallets. The legal notice was published on a website belonging to the legal firm "Solomon Brothers."

In conclusion, the legal notice adds a layer of intrigue to the transfer, suggesting a complex situation around the ownership and security of these significant Bitcoin holdings. The crypto community eagerly awaits the outcome of this unusual situation.

1. In light of the legal notice, the owner of the dormant Satoshi-era wallets containing approximately 80,000 Bitcoin might be contemplating proactive action, such as moving their funds to secure wallets or making on-chain transactions to prove active ownership, as suggested by the deadline stated in the notice.
2. The transfer of Bitcoin from the Satoshi-era wallets and the subsequent legal notice have sparked interest among cryptocurrency enthusiasts, with experts debating possible reasons behind the transfer, particularly whether it was driven by market conditions or a security measure to ward off potential quantum computing threats.

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