TLDR Tech / Crypto
Dormant $1.9M Bitcoin Tied to New York Lawsuit Moves After Nearly 15 Years
A Bitcoin address dormant since August 2011 transferred 30 BTC (~$1.88M) on Saturday, one of 39,069 addresses named in a New York lawsuit filed seeking ownership of inactive holdings. These addresses together hold an estimated 3.7 million BTC (~$234B), and the case tests whether New York's lost-property statutes can be applied to dormant cryptocurrency. Data shows movement from such addresses accelerating in June, with 31 addresses moving 17,527 BTC that month compared to five addresses moving 4,834 BTC in February. A defendant filed a motion to dismiss, arguing Bitcoin addresses are "data strings that cannot be sued," while legal experts counter that inactivity does not constitute abandonment absent proof of private key loss.
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