Dormant Bitcoin Wallet Moves $2.54M Amid Legal Dispute
- A Bitcoin wallet inactive since March 27, 2011, moved approximately 35.55 BTC on June 2, undermining a legal claim of abandonment.
- The wallet was involved in a $293 billion New York lawsuit flagged by Galaxy Research’s Alex Thorn.
- Plaintiff “Noah Doe” claims ownership of over three million BTC across multiple wallets under New York’s abandoned property law.
- Galaxy Research analysis shows the average wallet holds about 97.25 BTC, contradicting the plaintiff’s valuation of each address at under $10.
- The court authorized service through onchain messages, with each address receiving notice via dust transactions.
This movement of funds indicates active ownership and awareness of the ongoing lawsuit, challenging Noah Doe’s claim that these wallets are abandoned property under New York law.
Despite the potential for a default judgment by late June, no private keys would transfer to Noah Doe, as the case primarily aims to leverage legal documents against regulated exchanges or custodians holding these coins.(Source)
