Satoshi-Era Bitcoin Wallet Wakes Up; Scammers Hit Australian Network's YouTube; U.S. Government Sends Bitcoin to Coinbase
Summary:
A Bitcoin miner's wallet, inactive for 14 years, surprisingly sent 50 Bitcoin to Binance. Meanwhile, several YouTube channels of Australia's Seven Network were hacked by crypto fraudsters who illustrated a counterfeit Elon Musk cryptocurrency scam. Additionally, the U.S. Government transferred roughly 4,000 Bitcoin to a Coinbase wallet.
In a surprising turn of events, a Bitcoin wallet linked to a Bitcoin miner and untouched for 14 years has resumed activity. Concurrently, a prominent Australian media network, Seven Network, saw its YouTube channels compromised by cryptocurrency scammers who streamed a counterfeit Elon Musk cryptocurrency scam. In more news from the virtual currency world, it has been revealed that nearly 4,000 Bitcoin have been transferred to a Coinbase account by the U.S. government.
In a rare revelation, a Bitcoin wallet, which can be traced back to 2010 during the Satoshi-era of Bitcoin, has reactivated after a dormant period of 14 years. The wallet was filled with 50 Bitcoins which were immediately transferred to Binance, a renowned cryptocurrency exchange. On-chain data analytics firm Lookonchain revealed that the wallet owner was a Bitcoin miner who used to mine blocks in 2010, earning 50 BTC as a reward, an era when a Bitcoin was approximately $0.05 in value.
Each block in Bitcoin network only gives a reward of 3.125 BTC in comparison to the previous 50 BTC rate. The person was fortunate enough to mine a single block, a difficult task in today's era with the Bitcoin network experiencing high hash rates.
At the same time, an Australian broadcasting giant, Seven Network, had to face the unpleasant reality of their official YouTube channel being used by cryptocurrency scammers. They displayed videos impersonating Elon Musk promoting a dubious cryptocurrency venture. The hacked channel was made to appear as though it belonged to Tesla, showcasing a 'deep fake' Elon Musk claiming a high-return crypto giveaway. Over 150,000 viewers were tuned in during the scam.
Seven Network confirmed that their YouTube channels had been affected and are cooperating with YouTube to rectify the issue quickly.
A report from Arkham Intelligence, a blockchain analytic company, stated that the American government shifted 3,940 Bitcoin to a Coinbase Prime wallet on June 26. This Bitcoin transfer allegedly originated from Banmeet Singh, a supposed internet-based black market dealer, convicted on drug charges in the U.S. Singh was asked to surrender 8,100 BTC which translated to roughly $150 million during Singh’s conviction in 2019. The news of such a transaction has led to varying reactions within the cryptocurrency community.
Published At
6/27/2024 3:58:27 PM
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