The series of mysterious transactions with Bitcoin raised suspicions about the potential compromise of Satoshi Nakamoto's wallets.
The movements of cryptocurrency from old on-chain Bitcoin wallets, believed to belong to the founder of Bitcoin, have generated much speculation about potential security breaches or wallet security upgrades.
MAIN CONTENT
The series of transactions using OP_RETURN raised concerns about the security of the original Bitcoin wallets.
Approximately 80,000 BTC worth 8.6 billion USD were moved from old wallets to modern SegWit wallets.
Ripple CTO analyzes the possibility that this is an upgrade or claim on old wallets, not a direct hack of Bitcoin.
What do the mysterious Bitcoin transactions on July 1 mean?
Reputable on-chain experts quickly confirmed this is a special operation related to old wallets on the Bitcoin network.
On July 1, transactions containing messages embedded in OP_RETURN raised suspicions within the cryptocurrency community. These transactions originated from classic P2PKH wallet addresses, particularly those believed to belong to Satoshi Nakamoto, the founder of Bitcoin. The message fragments affirming ownership of the transaction content raised alarms about potential vulnerabilities in the original wallet structure of Bitcoin, which holds nearly 1 million Bitcoin.
What does the movement of 80,000 BTC worth 8.6 billion USD signal?
IT experts, the CEO of Ledger, and the Arkham research team all evaluate this as not a sign of sell-off but a security upgrade.
A few days later, approximately 80,000 BTC equivalent to 8.6 billion USD was transferred from "dormant" wallets for 14 years to modern SegWit wallets. These wallets operate under mysterious mechanisms and may belong to an early Bitcoin miner. Since there was no outflow of funds to exchanges, analysts believe this is likely a security upgrade action or the utilization of a lost private key that may be recoverable.
"This event is not a sell-off, but rather an infrastructure upgrade of wallets to improve security and on-chain interaction."
Charles Guillemet, CTO of Ledger, July 5, 2025
How does the Ripple CTO view this situation?
David Schwartz, CTO of Ripple, shares perspectives to alleviate community concerns.
He mentioned two hypotheses: either an individual is laundering money by claiming to have found private keys, or this person has discovered an old wallet with weak security and wants to claim legitimate ownership. Schwartz asserts there is no evidence that the core cryptographic structure of Bitcoin has been compromised, and access to Satoshi's wallet remains speculative.
"It's difficult to precisely determine this phenomenon, but there are no signs that Satoshi has ever been hacked."
David Schwartz, CTO of Ripple, stated on July 11, 2025
What can be concluded about the safety of original Bitcoin wallets?
The area of first-generation Bitcoin wallets still poses security risks compared to the new infrastructure.
The fact that old wallets could be exploited or transferred indicates that P2PKH wallets used in the early days of Bitcoin have vulnerabilities. Meanwhile, the owners upgrading to SegWit shows a trend of maintaining security alongside blockchain technical development. However, these wallets have not yet been clearly identified as belonging to anyone, let alone Satoshi.
Comparing types of Bitcoin wallets: classic P2PKH wallets and modern SegWit wallets
Criteria P2PKH Wallet (Classic) SegWit Wallet (Modern) Security High risk with weak keys and poor nonce Improved security, prevents nonce duplication errors Transaction fees (Gas fee) Higher fees due to unoptimized block size Lower fees by eliminating redundant signature data Compatibility Popular in the early days, does not support advanced smart contracts Supports SegWit, optimized for smart contracts, DeFi Features Only supports basic sending and receiving Supports multiple advanced transaction types, SegWit rollback
Frequently Asked Questions
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the founder of Bitcoin and created the first blockchain, whose identity remains a mystery and undetermined.What is the difference between P2PKH wallets and SegWit wallets?
P2PKH wallets are classic wallets that may be less secure, while SegWit wallets optimize fees and improve security by changing the transaction structure.Are the ongoing transactions a sign of being hacked?
Experts assert there is no evidence of hacking; it is highly likely a security upgrade or legal manipulation of old wallets.Why do old wallets still hold significant value?
Old wallets store large amounts of original Bitcoin, often held by miners and long-term holders, and still have a value of billions of USD.What is OP_RETURN in Bitcoin?
OP_RETURN is a feature of the Bitcoin blockchain used to embed and store arbitrary information in transactions.
Source: https://tintucbitcoin.com/ripple-cto-denies-satoshi-hack-conspiracy/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
