Satoshi-Era Bitcoin Wallet Moves 75 BTC After New York Lawsuit
The transaction weakens the argument that the wallet was abandoned and adds more pressure to the New York abandoned property lawsuit.
Key Takeaways
- A Satoshi-era Bitcoin wallet moved 75 BTC on Thursday for the first time since 2011.
- The wallet was previously mentioned in a New York lawsuit over possibly abandoned Bitcoin holdings.
- The transaction followed a legal notice with 546 satoshis and emptied the old address.
A Bitcoin wallet from the early days of the crypto market moved coins for the first time since 2011. That happened months after the wallet was named in a New York lawsuit as possibly abandoned property. The transfer involved 75 BTC, worth about $5 million (€4.5 million) in total. The move came at the same time as a small payment that had previously been sent as a legal notice was swept away.
Lawsuit Over Old Wallets
The case was filed in New York by a plaintiff identified only as Noah Doe, along with two Wyoming companies. They are asking the judge to declare them the owners of Bitcoin in 39,069 addresses. Their argument is that wallets that have been inactive for at least five years can count as lost property under the law.
According to the complaint, the case involves about 3.8 million BTC. That includes coins attributed to Bitcoin founder Satoshi Nakamoto. The court allowed the unknown holders to be notified through small bitcoin payments with a message referring to the legal filings.
What Happened on Thursday
The wallet that moved on Thursday was listed in the amended complaint as defendant number 3,419. On May 22, the address received 546 satoshis, worth less than 40 cents at recent prices, with the text “COURT-ORDERED LEGAL NOTICE” and a link to the plaintiffs’ notice page.
On Thursday evening, those 546 satoshis, along with the original 75 BTC and three other small deposits, were sent to a new address. That emptied the old address. The transaction shows that someone still has access to the coins, but it does not say who that is.
Why This Matters
The move matters for European crypto readers because the case centers on a question that goes beyond this one wallet: when is Bitcoin that has been inactive for a long time really abandoned? Lawyers warn that a broad reading of “abandoned property” could create uncertainty around self-custody and crypto ownership. At the same time, the case shows that old wallets can still move after all, without it being immediately clear why or by whom. That ties into broader debates about dormant wallets and how vulnerable old coins could be if the industry ever gets stricter migration or security rules.