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New York lawsuit continues to escalate, a Bitcoin address dormant for 15 years transferred 30 BTC worth approximately $1.88 million.

DeepFlowTech
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Deep Tide TechFlow News: On July 06, according to Cointelegraph, the Bitcoin address "1KV47" has recently completed its first transfer in nearly 15 years, moving 30 BTC (about $1.88 million) out of the wallet. The address originally received the aforementioned Bitcoins in August 2011. This address is one of 39,069 listed addresses in a lawsuit in New York, in which the plaintiff "Noah Doe" and two Wyoming companies are attempting to assert ownership of these dormant Bitcoins under New York’s lost property law. Based on data from Alex Thorn, head of research at Galaxy Digital, in June 31 related addresses transferred 17,527 BTC, a substantial increase from the 4,834 BTC transferred in February. Legal experts note that address dormancy does not equal abandonment of ownership, and in the absence of proof of private keys, the foundation of the lawsuit is “extremely weak.”
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