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107 bitcoin held for 12 years disappear as burned; tax and misdirected transfer theories spread

An unidentified entity sent 107 bitcoin held for more than 12 years to a burn address, making them permanently unusable. Cointelegraph said the coins were worth $8.5 million at the time. On-chain data showed five addresses moved the bitcoin to an old burn address starting with “11111”. The transfer drew attention because the coins were bought when bitcoin traded below $600, prompting theories ranging from tax-loss purposes to errors and illicit fund disposal.