A Bitcoin wallet holding 35.55 BTC transferred its funds on 2 June after remaining dormant since March 2011, becoming one of the first addresses linked to a New York lawsuit to show activity. The wallet is among 39,069 addresses referenced in a legal claim filed by plaintiffs Noah Doe, ABC Company, and XYZ Company seeking title to approximately 3.8 million BTC valued at roughly US$285 billion. The transfer occurred after the wallet received a court-authorized notice delivered through blockchain messages on 31 July 2025. The lawsuit invokes New York's lost-property laws to claim ownership of coins in wallets inactive for over a decade. Galaxy Research's Alex Thorn stated the transaction demonstrated the coins were "not, in fact, abandoned," while a New York court paused proceedings on 5 June until a hearing scheduled for 14 July.
Wallet Transfers 35.55 BTC After 13-Year Dormancy
The address had not recorded any activity since receiving the coins in March 2011. Blockchain data indicates 15 BTC was sent to a new destination, while 20.55 BTC was returned to the holder as change. The holdings are currently valued at approximately US$2.54 million. At the time the coins were first received in March 2011, Bitcoin traded for less than US$1.
Lawsuit Claims US$285 Billion in Dormant Bitcoin Addresses
Plaintiffs Noah Doe, ABC Company, and XYZ Company filed the lawsuit in New York state court seeking legal title to around 3.8 million BTC held across 39,069 dormant wallets. The claim places the value of those holdings at roughly US$285 billion. The plaintiffs are using New York's lost-property laws to assert ownership of allegedly abandoned Bitcoin addresses.
Court Authorizes Blockchain Notice Delivery to Wallet Holders
As part of the legal process, the court authorized notices to be delivered through OP_RETURN messages recorded on the Bitcoin blockchain. According to reports, advisers acting for the plaintiffs sent 98 rounds of dust transactions containing notice links in June and July 2025. The wallet that later moved its coins received one of those notices on 31 July 2025. Galaxy Research tracked the address as a defendant in the case. Following the transaction, head of research Alex Thorn wrote that the coins were "not, in fact, abandoned."
Court Pauses Proceedings Until July Hearing
A New York court issued an order on 5 June pausing further proceedings in the lawsuit until a hearing on 14 July.
FAQ
What did the dormant Bitcoin wallet do on 2 June?
The wallet transferred 35.55 BTC after remaining inactive since March 2011. Blockchain data shows 15 BTC was sent to a new destination and 20.55 BTC was returned as change. The wallet received a court-authorized notice on 31 July 2025 before executing the transaction.
How many Bitcoin addresses are included in the New York lawsuit?
The lawsuit filed by plaintiffs Noah Doe, ABC Company, and XYZ Company references 39,069 dormant wallet addresses holding approximately 3.8 million BTC. The claim values these holdings at roughly US$285 billion. The plaintiffs are using New York's lost-property laws to seek legal title to the coins.
What is the current status of the lawsuit proceedings?
A New York court issued an order on 5 June pausing further proceedings until a hearing scheduled for 14 July. The court authorized delivery of notices to wallet holders through OP_RETURN messages on the Bitcoin blockchain, with 98 rounds of dust transactions sent in June and July 2025.
