Coinbase Director Spots Suspicious Bitcoin Cash Test Before $8.5B Satoshi-Era BTC Movements

A series of mysterious Bitcoin transfers totaling $8.5 billion from dormant 'Satoshi-era' wallets may have been preceded by a covert test on the Bitcoin Cash network. Coinbase director Conor Grogan identified a 10,000 BCH transaction (worth ~$5M) linked to one of the whale wallets hours before the main BTC movements began. The timing suggests a potential private key test conducted under the radar—BCH transactions at the time were significantly cheaper and faster, making them an ideal sandbox for such an experiment. This discovery has sparked speculation about whether the movements were orchestrated by early Bitcoin adopters or even Satoshi Nakamoto's associates. The sheer scale of the transfers—some wallets inactive since 2010—has sent ripples through the crypto community, with analysts debating whether this signals a strategic liquidation or a proof-of-concept for large-scale blockchain operations. Coinbase's surveillance capabilities highlight how major exchanges are increasingly acting as on-chain intelligence hubs in the crypto ecosystem.

Suspicious Bitcoin Cash Test Preceded $8.5B 'Satoshi-Era' BTC Movements

A series of mysterious Bitcoin transfers totaling $8.5 billion from dormant 'Satoshi-era' wallets may have been preceded by a covert test on the Bitcoin Cash network. Coinbase director Conor Grogan identified a 10,000 BCH transaction (worth ~$5M) linked to one of the whale wallets hours before the main BTC movements began.

The timing suggests a potential private key test conducted under the radar—BCH transactions attract less scrutiny than BTC from whale-tracking services. Eight wallets inactive since 2011 each moved 10,000 BTC to new SegWit addresses in manual, high-value transfers that raised alarms. Only one associated BCH address was touched, leaving open questions about full access to the funds.

The BTC transfers commenced precisely one hour after the BCH test, fueling speculation about coordinated activity. No entities have claimed ownership of the wallets, which originated during Bitcoin's earliest days.

Coinbase Director Suggests Hack May Be Behind $8B Bitcoin Movement

Conor Grogan, a director at Coinbase, has raised concerns that the recent activation of $8 billion in dormant bitcoin could indicate a security breach. The funds, which had been inactive for an extended period, suddenly showed movement, prompting speculation about potential unauthorized access.

Grogan's hypothesis centers on the unusual nature of the transaction, suggesting it may not align with typical holder behavior. The incident highlights ongoing security challenges in the cryptocurrency ecosystem, where large-scale movements of dormant assets can signal either legitimate activity or malicious exploitation.

Dogecoin (DOGE) Eyes Breakout Toward $0.22 as Bulls Build Momentum

Dogecoin (DOGE), the leading meme cryptocurrency, is showing signs of a potential breakout as bullish momentum builds. Analysts highlight a critical support level at $0.15, which has held firm since late 2023, suggesting steady accumulation despite broader market fatigue. A sustained hold above this level could pave the way for a rally toward $0.22—a 50% surge from current prices.

The $0.22 target aligns with a key Fibonacci retracement level, a technical indicator that previously acted as resistance during rallies in April and May. With Bitcoin consolidating NEAR all-time highs, traders are shifting focus to altcoins like DOGE, which could benefit from thinning liquidity in the meme coin sector. A confirmed breakout above $0.18, especially with strong volume, may trigger a rapid upward move.

Recent trading activity underscores growing interest, including a 12 billion Doge token movement within 24 hours and an 11,558% volume spike on Coinbase. Market watchers are closely monitoring whether DOGE can capitalize on this momentum to reach its next resistance level.