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$2.48B BTC transfers challenge ‘lost’ Bitcoin wallets in Satoshi lawsuit
The transfers weaken the abandonment claim at the center of a lawsuit seeking title to 3.799 million BTC.
A New York lawsuit seeking title to dormant Bitcoin faces evidence that 52 targeted wallets moved 34,335 BTC.
02Those transfers undercut the abandonment claim behind a bid to seize 3.799 million BTC, including coins tied to Satoshi.
03The court has stayed the case, but plaintiffs seek to narrow it while the ledger may still determine the outcome.
A quiet legal maneuver to seize title to more than $200 billion in dormant Bitcoin, including Satoshi Nakamoto's, has encountered a fundamental flaw.
A lost Bitcoin wallet lawsuit in New York now faces direct on-chain evidence that supposedly abandoned addresses are actively transferring billions of dollars in BTC, fracturing the plaintiffs’ core legal premise.The dispute turns on whether dormant Bitcoin addresses can be treated as abandoned property when the coins remain under private-key control.Since a pair of anonymous Wyoming limited liability companies filed a lawsuit seeking to claim 39,069 inactive Bitcoin addresses as lost property, 52 of those specific addresses have transferred roughly 34,335 Bitcoin. At current market valuations, the assets that moved are worth approximately $2.48 billion.Operating under the pseudonym “Noah Doe,” the Wyoming entities framed the case as a lost-property lawsuit over Bitcoin under New York state law. The apparent strategy is to secure a default judgment granting them legal title to 3.799 million Bitcoin.To fit the stringent jurisdictional and statutory requirements of the property law, the plaintiffs reportedly valued the claim at an astonishingly low $10.In reality, the targeted addresses hold hundreds of billions of dollars, including coins mined during.....
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