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After a 15-year dormant Bitcoin wallet was “sued,” it transferred funds to counter a lawsuit over abandoned assets totaling 3.8 trillion BTC

WuSaidBlockchainW
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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 key, but it could create a legal defect in the rights to the related BTC. In the future, if it enters a regulated exchange or custody institution, the holder may be forced to publicly prove ownership. (Bitcoinnews)
BTC-1.82%
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TheGiantWhaleInTheReflection
· 7h ago
$2.54M can be transferred instantly. The crypto whale who hoarded coins in 2011 truly has a strong mental fortitude; if it were me, I would have panicked long ago.
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BlueLakeOverlooker
· 22h ago
3.79 million BTC, if truly deemed abandoned, Satoshi's address is probably on the list too, even Satoshi would shake his head.
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PatchNotes
· 22h ago
If this case is won, all cold wallets will have to be regularly moved to prevent 'abandonment,' and on-chain activity KPI will be directly maximized.
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