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An unknown person spent $66,000 to encrypt data on the Bitcoin network

  • An unknown person encrypted almost 9 MB of data on the Bitcoin network.
  • To do this, he completed 332 transactions and paid a commission of about $66,000.

An anonymous user paid a fee of 1.5 BTC (about $66,000 at the time of writing) to encrypt information on the Bitcoin network. Specialists of the Ord.io platform drew attention to unusual transactions.

Experts reported that an unknown person performed 332 transactions to encrypt 8.93 MB of data. The average commission was $200.

It is reported that the Ordinals protocol was used to record the information. It is designed to store digital works of art on the Bitcoin network, but they can store all types of data, including ciphertext.

Who performed the encoding of information and for what purpose remains unknown. No user or organization has claimed ownership of this data.

Let us remind you that in early January, an unknown person sent 26.9 BTC to the Genesis network wallet – the first address created in the Bitcoin network. The director of the cryptocurrency exchange Coinbase, Conor Grogan, suggested that the activity on the network “could be related to Satoshi Nakamoto or someone accidentally burned millions of dollars.”

Note that in November 2023, Bitcoin whales transferred 6,500 BTC from three addresses after six years of hibernation. About a month later, another large Bitcoin holder sent 1,000 BTC to several wallets.