The New York lawsuit continues to escalate, with a dormant Bitcoin address that had been inactive for 15 years transferring 30 BTC, worth approximately 1.88 million dollars
By: rootdata|2026/07/06 20:45:00
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According to Cointelegraph, the Bitcoin address "1KV47" recently completed its first transfer operation in nearly 15 years, moving 30 BTC (approximately $1.88 million) out of the wallet. This address originally received the aforementioned Bitcoin in August 2011. It is one of 39,069 listed addresses in a lawsuit in New York, where the plaintiff "Noah Doe" and two companies from Wyoming are attempting to claim ownership of these dormant Bitcoins under New York's lost property law.
According to data from Alex Thorn, head of research at Galaxy Digital, 31 related addresses transferred 17,527 BTC in June, a significant increase from 4,834 BTC in February. Legal experts point out that address dormancy does not equate to abandonment of ownership, and in the absence of private key proof, the basis of the lawsuit is "extremely weak."
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