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Hoskinson criticizes New York lawsuit, demands declaration of ownership for 39,069 Bitcoin wallets

CoinNetwork
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CryptoWorld News reports that Cardano founder Hoskinson criticized a lawsuit in New York involving 39,069 dormant Bitcoin wallets. The lawsuit was filed on May 1, 2026, by the plaintiff “Noah Doe” in the New York State Supreme Court, seeking legal ownership of these wallets. The plaintiff claims that algorithms were used to identify wallets that have been inactive for at least five to six years, and that these were reported to the New York Police Department as found property. The lawsuit cites Article 7-b of the New York Personal Property Law, concerning found and abandoned property. Hoskinson said on social media, “Hey, you’ve kept cash in the safe for too long—I want it!” and called “lawyers the most despicable creatures on Earth.” His remarks on the case reflect concerns in the crypto market about whether dormant wallets can be treated as forgotten bank accounts. The lawsuit does not allege that the plaintiff owns the private keys to the wallets; the core issue is whether self-custodied Bitcoin wallets can be declared abandoned due to years of not being moved.
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BetaParanoiac
· 5h ago
This case has set a dangerous precedent; self-custody ≠ giving up all ownership rights.
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NightFlightPaperCrane
· 5h ago
Core contradiction: On-chain transparency ≠ the ability to arbitrarily claim unowned assets
View OriginalReply0
GlowingHotAirBalloon
· 5h ago
Noah Doe, that name sounds like a professional scammer.
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Neon-LitStreetsAfterTheRain
· 5h ago
39k wallets, how did the plaintiff 'discover' them, was it through an algorithm scanning on-chain data?
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GateUser-8df0eb2b
· 5h ago
Hoskinson put it quite vividly: if you leave a safe untouched for too long, it becomes someone else's?
View OriginalReply0

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