$8 billion in Bitcoin just moved - and it might be a hack.
A mysterious $8 billion Bitcoin movement has sparked widespread speculation in the crypto community, with Coinbase executive Conor Grogan suggesting it could be the result of a hack.
The wallets involved had remained untouched for over 14 years before suddenly transferring their entire holdings last week.
Notably, a test transaction on the Bitcoin Cash (BCH) network-a less monitored blockchain-was detected just prior to the Bitcoin transfers, which Grogan believes may have been a stealthy way to confirm private key access without drawing attention.
The wallet addresses in question date back to Bitcoin's infancy, when BTC was worth just $0.78. Their reactivation has alarmed analysts due to the unusual and deliberate nature of the transfers, especially since other BCH-linked wallets were left untouched.
Grogan emphasized that this doesn't look like standard exchange behavior and hinted at possible compromised private keys. While no definitive conclusion has been reached, the irregular movement has triggered renewed scrutiny over dormant wallet security and the ongoing risks posed by long-lost or stolen keys.
