Bitcoin Active Addresses Surpass 980,000... Highest Since December 2024

▲ Bitcoin (BTC), cryptocurrency wallet, cryptocurrency security/AI generated image

On July 31, as fears of Coldcard hardware wallet hacking spread, Bitcoin (BTC) active addresses surged to approximately 980,000, marking the highest level since December 2024.

According to crypto media outlet BeInCrypto on August 4 (local time), Bitcoin active addresses increased by more than 50% from 645,000 on July 30 to approximately 980,000 the following day. This was a result of holders urgently moving their assets after attackers exploited a flawed random number generator to steal Bitcoin from Coldcard hardware wallets.

In three confirmed attacks, 1,367 BTC were stolen from 4,585 addresses. The total loss was estimated at $88.6 million. Subsequently, over 380 BTC were further drained in what is suspected to be a fourth attack.

Julio Moreno, Head of Research at CryptoQuant, analyzed that most of the increase in active addresses originated from sending addresses. The increase in receiving addresses was not significant, indicating that assets from thousands of wallets were consolidated into a few addresses. Moreno stated, “This is the first time since the FTX collapse that individual Bitcoin holders have moved this much Bitcoin in a single day. It's positive to see people taking action.”

The transfer volume of less than 1 BTC reached 39,600 BTC on July 31. This is a similar level to the 39,900 BTC recorded on November 16, 2022, immediately after the FTX collapse. One victim lost 18.25 BTC in less than 7 minutes, with the value at the time being $1.6 million.

On the same day, the number of Bitcoin transactions totaled 761,796, falling short of the past record of 1 million. Alex Thorn, Head of Galaxy Research, stated that batch balance transfer transactions increased by approximately 45 times per block compared to before the incident, reaching 13.8. Developers postponed the implementation of BIP-110 softfork based on the Coldcard incident, and the Bitcoin price showed no significant fluctuation despite the large-scale asset movements.

[Article Key Summary]

-Amid Coldcard hacking fears, Bitcoin active addresses increased to approximately 980,000, marking the highest level since December 2024.

-In three confirmed attacks, 1,367 BTC were stolen from 4,585 addresses, with total losses amounting to $88.6 million.

-Transfer volume of less than 1 BTC increased to 39,600 BTC, but the total number of transactions remained below previous highs.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*