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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.
Crypto
Lawsuit in New York seeks control of 3.7 million dormant bitcoin including Satoshi addresses
A lawsuit has been filed in a New York court seeking transfer of ownership of long-dormant bitcoin wallets, including addresses linked to Satoshi Nakamoto and the Mt. Gox hack. The plaintiff, using the name Noah Doe, argues under New York’s lost property law that inactive bitcoin should be treated as abandoned. The case targets 39,069 wallets said to hold about 3.7 million bitcoin, valued at about $290 billion, but industry figures question whether any ruling could be enforced.
