| Mobile Web

Search results for New York court

Crypto

Decade-old bitcoin wallets stir as 553 BTC moved from six dormant wallets

Six bitcoin wallets that had been inactive for more than 10 years moved a total of 553.59 BTC over the past 10 days, worth about $40.15 million at current value. Galaxy Research tracked transfers from wallets last active in 2011, 2012 and 2014. Some wallets carried tags linked to a New York court case seeking dormant bitcoin addresses to be treated as unclaimed property. The exact reason for the transfers was not confirmed.

Crypto

Dormant bitcoin awakens after 14 years, ownership dispute in focus on 720,000 percent return

A cache of 30 bitcoin that had not moved for more than 14 years has recently been transferred, drawing attention. The coins were first received on Aug. 7, 2011 and moved in bitcoin block 956627. Galaxy Research said the wallet had been dormant for 14 years and 9 months, valuing the holdings at $1.88 million and calculating a 719,353 percent return based on a $9 average purchase price. The coins are linked to an ongoing ownership lawsuit in New York.

Crypto

New York court pauses lawsuit seeking ownership of 39,069 dormant bitcoin wallets

A New York court has temporarily paused proceedings in a lawsuit seeking to transfer ownership of tens of thousands of bitcoin wallets to the plaintiffs. The pause will remain in place until a July 14 hearing on an amicus brief. The case targets 39,069 addresses claimed to be lost or abandoned, but a recent transfer of about 35.55 bitcoin from a long-dormant address linked to the lawsuit has raised questions about that assertion.