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User Loses $7,000 in BTC After Sending to Satoshi Nakamoto’s Address by Mistake

2 mins
Translated Lynn Wang
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In Brief

  • Bitcoin user accidentally sent $7,000 to Satoshi Nakamoto's inactive address.
  • Incident reignites speculation about Satoshi's identity and Bitcoin's origins.
  • Community members speculate about the intent behind the transaction.
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A Bitcoin (BTC) user made a blunder by accidentally sending almost his entire BTC balance to an address associated with Satoshi Nakamoto, the enigmatic creator of Bitcoin.

According to the on-chain analytic platform Arkham Intelligence, the user was trying to sacrifice an ordinal for PUPS—a BRC-20 meme coin in the Bitcoin blockchain.

The Bitcoin User Error Sparks Community Speculations

However, the user incorrectly entered Satoshi Nakamoto’s address instead of the intended one. As a result, they sent over $7,000 worth of BTC to an address that has been inactive for years.

The accidental transfer has reignited speculation about Satoshi Nakamoto’s identity and the fate of the Bitcoin stored at his address. The associated address contains a significant amount of BTC.

Read more: Satoshi Nakamoto – Who is the Founder of Bitcoin?

A Bitcoin User Accidentally Sent ~$7,000 in BTC to Satoshi’s Address. Source: Arkham Intelligence

Arkham Intelligence data reveals that the wallet now has a balance of 100.424 BTC, valued at $6.72 million at the time of writing. The address has remained untouched since Bitcoin’s creation in 2009. Currently, there is no indication that the BTC sent in this incident is accessible or moving, maintaining the status quo of inactive addresses.

The crypto community’s reaction to the bug has been a mix of sympathy and astonishment. Some feel pity for the user who lost a considerable amount of money without the possibility of recovery. On the other hand, others hypothesize that this surprising movement has a direct connection to Bitcoin’s creator.

“What if it wasn’t a mistake? What if it’s someone doing business with the real Satoshi? Or maybe even it is him,” a crypto community member speculated.

Read more: Who Owns the Most Bitcoin in 2024?

Despite the speculation, this incident serves as a reminder of the importance of carefully verifying transaction details, especially in the crypto space, where a single mistake can have irreversible consequences. Crypto users should always double-check addresses and fully understand the process before sending any funds.

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Lynn Wang
Lynn Wang is a seasoned journalist and content creator with over eight years of experience in digital marketing and cryptocurrency journalism. Her expertise lies in SEO strategy, blockchain technology, and Web3, where she has consistently delivered impactful content initiatives and engaged audiences effectively. Since January 2022, Lynn has been at the forefront of content and community efforts for BeInCrypto Indonesia. Under her leadership, the platform has witnessed remarkable growth,...