Galaxy Research Pins $8.3M Bitcoin Burn on Automated Agent Error

Galaxy Research on May 28 named automated agent error the leading cause of the May 26 burn of 107.1302 BTC sent from five dormant 2014 wallets to the unspendable address 1111111111111111111114oLvT2. The transfer lifted the burn address balance to 807.238 BTC. Earlier speculation by Blockstream CEO Adam Back called the event an “accidental quantum bounty,” while analysts flagged possible Mt. Gox links. Across the three-day window, observers concluded the modest amount was too small to affect price as BTC traded near $72.8K–$73.5K.