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$293B Bitcoin lawsuit sees billions moved from disputed wallets, raising doubts on abandonment claims.

Market News
20 Jun 2026
Bitcoin
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Neutral
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A New York Supreme Court case over ownership of 3.8 million dormant bitcoins worth $293 billion faces new challenges as onchain data reveals billions of dollars in bitcoin moving from wallets named in the lawsuit. Plaintiffs claim the wallets were abandoned and seek to claim them under lost-property law, but recent blockchain activity tracked by Galaxy Research shows significant bitcoin transfers, undermining the abandonment argument. Lawyers dispute whether the case should proceed amid concerns over proper notice to wallet holders and jurisdiction. A July 14 hearing will address these issues, potentially shaping how traditional property law applies to digital assets.

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