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Bitsky000

07/06 10:06

Dormant $1.9M Bitcoin Linked to NY Lawsuit Moves A

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Dormant $1.9M Bitcoin Linked to NY Lawsuit Moves After 15 Years A Bitcoin address that had been inactive for nearly 15 years has moved 30 BTC for the first time since it received the funds in August 2011. According to blockchain data shared by Galaxy Research, the address—labeled “1KV47”—made its first outgoing transfer on Saturday, sending coins worth about $1.88 million at the time of reporting. The transaction is drawing fresh attention because the same address appears among thousands of wallets referenced in an ongoing New York lost-property lawsuit involving dormant Bitcoin holdings. Legal analysts say the case could help clarify whether inactivity in a cryptocurrency wallet can be treated as “abandonment” under state law—or whether it simply reflects the holder’s storage choices, lack of access credentials, or other factors that don’t amount to relinquishing ownership.
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