A lawsuit in New York attempting to classify approximately 39,069 dormant Bitcoin wallets, totaling about 3.7996 million BTC, as "abandoned property" has seen a dramatic development. A wallet that has not been active since March 2011 was listed as a defendant and received a lawsuit notice through on-chain dust transactions, then on June 2nd transferred 35.55 BTC, worth about $2.54 million. Galaxy Research research director Alex Thorn stated that the address clearly "has not been abandoned." The report said that even if the plaintiff Noah Doe obtains a default judgment, they will not acquire the private keys, but it could create a legal defect in the rights to the related BTC. In the future, if the BTC enters regulated exchanges or custodial institutions, the holder may be forced to publicly prove ownership. (Bitcoinnews)

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