A Bitcoin miner’s wallet, dormant for 14 years, has reactivated. Australian broadcaster Seven Network’s YouTube channels were hacked by crypto scammers showing fake Elon Musk crypto scams. Meanwhile, the US government sent approximately 4,000 Bitcoins to a Coinbase wallet. Here are three major developments from the last 24 hours.
Bitcoin Wallet Awakens After 14 Years
A Bitcoin wallet from the Satoshi era, dating back to 2010, has reactivated after 14 years and sent 50 Bitcoins to the Binance crypto exchange. According to Lookonchain data, the Bitcoin wallet belongs to a Bitcoin miner who earned 50 Bitcoins as a mining reward in July 2010.
These assets are among the first Bitcoins mined when the block reward was 50 Bitcoins per block. The Bitcoin miner earned the 50 Bitcoin block reward when Bitcoin was trading at approximately $0.05 and was just a year old. At that time, the value of the Bitcoin assets was only $25.
Deep Fake Scam Continues
On June 27, the YouTube news channel of Australia’s leading broadcaster Seven Network was hacked by crypto scammers, broadcasting deep fake videos of Elon Musk promoting a fake crypto scheme.
7News’ YouTube channel was rebranded to appear as Tesla, showing an AI-generated fake video of the company’s CEO claiming to distribute cryptocurrency. The AI-generated Musk encouraged people to participate in a common double-your-money scam, promising to return double the amount of crypto sent to a specific address.
US Government Takes Notable Step
Blockchain data analysis firm Arkham Intelligence’s data shows that the United States government transferred 3,940 Bitcoins to a Coinbase Prime wallet on June 26. The Bitcoins are allegedly from Banmeet Singh, a dark web vendor convicted of narcotics charges in the US, who was ordered to forfeit 8,100 Bitcoins worth approximately $150 million during his 2019 conviction.
The crypto community’s reaction on social media ranged from simple approval to expressing concerns about the timing of the transfer. For example, one X user shared the following statement:
“I have no idea where crypto is headed due to the US government transferring Bitcoin and potential war on the horizon.”
