The New York State Supreme Court has paused an ex parte default judgment proceeding involving 39,069 Bitcoin wallets. The related wallets total approximately 3.8 million BTC, valued at about $293 billion. The plaintiff in the case, Noah Doe, attempted to claim ownership of these long-dormant wallets under New York’s lost property laws, but New York attorney Ian R. Cohen submitted an amicus brief to the court arguing that long-term inactivity does not equate to relinquishing ownership, and that Bitcoin cannot be deposited with the police like physical property. The court paused the proceedings on June 5, and the case remains pending further hearings. In addition, some addresses listed in the case have recently shown on-chain transfers, including a wallet that has been dormant since 2011 and has transferred out 47.26 BTC. (Bitcoin com)