On-chain data shows $2.48B moved from 'dormant' Bitcoin wallets, undermining abandoned property lawsuit
By
Oluwapelumi Adejumo
Summary
A legal attempt to seize dormant Bitcoin wallets—including those allegedly belonging to Satoshi Nakamoto—worth over $200 billion is facing a major setback. On-chain evidence shows that addresses claimed as "abandoned" have moved $2.48 billion in BTC, undermining the plaintiffs' core argument that these coins can be treated as unclaimed property under New York law. The case, filed by anonymous Wyoming LLCs, hinges on whether private-key-controlled Bitcoin can be considered abandoned property.
Source
bskyOn-chain data shows $2.48B moved from 'dormant' Bitcoin wallets, undermining abandoned property lawsuitcryptoslate.comKey quotes
· 3 pulledA 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.
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