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A Bitcoin address dormant for nearly 15 years moved $1.9 million in BTC as a New York lawsuit seeks ownership of thousands of inactive holdings. A dormant Bitcoin address transferred 30 BTC worth about $1.88 million f...
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Defendant Files to Dismiss New York Lawsuit Seeking Ownership of 39,069 Bitcoin Wallets
A defendant who owns one of the dormant Bitcoin wallets filed to dismiss the New York case, which seeks ownership of $229 billion worth of Bitcoin considered lost. A pseudonymous defendant has moved to dismiss a New Y... 已聚合 2 个来源，主要涉及 BTC。
A Bitcoin address dormant for nearly 15 years moved $1.9 million in BTC as a New York lawsuit seeks ownership of thousands of inactive holdings.
A dormant Bitcoin address transferred 30 BTC worth about $1.88 million for the first time in almost 15 years.
Bitcoin address "1KV47" made its first outgoing transfer on Saturday since receiving 30 BTC in August 2011, blockchain data shared by Galaxy Research shows.
The address is among 39,069 listed in a New York lawsuit filed by "Noah Doe" and two Wyoming-based companies seeking ownership of dormant Bitcoin holdings. The case could test how inactive cryptocurrency holdings are treated under the state's lost-property law.
The listed addresses include those widely associated with Bitcoin creator Satoshi Nakamoto and collectively hold an estimated 3.7 million BTC worth about $234 billion, according to Sani, founder of analytics platform Timechain Index.
More dormant Bitcoin addresses tied to the New York lawsuit have been waking up, with 31 of them moving 17,527 BTC in June, up from five that transferred 4,834 BTC in February, according to Galaxy Digital head of research Alex Thorn.
Related: Irish authorities seize another 500 Bitcoin, bringing 2026 total to 1,500 BTC
On Friday, a defendant, identifying themselves as “John Doe 33,” who claims to control one of the dormant Bitcoin addresses, filed a motion to dismiss the lawsuit , arguing that Bitcoin addresses are merely data strings that cannot be sued.
A New York court can adjudicate rights in intangible property, but it does not have the authority to convert public addresses into “found” property just because the plaintiff copied these addresses to a hard drive, Edwin Mata, lawyer and CEO of tokenization platform Brickken, told Cointelegraph.
The Bitcoin addresses named in the lawsuit may also represent Bitcoin held in long-term cold storage, coins with lost keys, or simply a holder who refuses to move them. Without private keys needed to control the assets, the foundation of the lawsuit remains “very weak,” Mata said.
The supply of Bitcoin has been dormant for the past five and 10 years. Source: Bitbo
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