New York Lawsuit Seeks Ownership of 39,069 Dormant Bitcoin Addresses Holding 3.7M BTC

According to onchain analytics sources, a New York lawsuit filed on May 1 by Noah Doe and two Wyoming-based LLCs is seeking a court order declaring ownership of 39,069 dormant Bitcoin addresses. The addresses reportedly hold an estimated 3.7 million BTC, valued at approximately $285 billion, including wallets linked to early Bitcoin miners, Satoshi Nakamoto, and the Mt. Gox exchange hacker.

The plaintiffs claim the inactive wallets qualify as abandoned property under New York law and should be treated as found assets. However, experts note significant technical barriers: without private keys, a court order cannot force the Bitcoin network to transfer funds. Castle Labs analyst Noveleader stated the court could not compel the network to reassign funds, with the only possible exception being if coins move to regulated custodians or exchanges, where intermediaries could be compelled to act.