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Bitcoin wallet dormant since 2011 moves $2.54M amid NY abandoned property lawsuit.

Market News
02 Jun 2026
Bitcoin
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Neutral
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A bitcoin wallet inactive since 2011 suddenly moved 35.55 BTC, worth about $2.54 million, shortly after being named in a New York lawsuit claiming nearly 3.8 million bitcoins are abandoned property. This move challenges the plaintiff's claim that the wallet was abandoned, as the owner demonstrated active control by transferring coins after receiving legal notice via onchain dust transactions. The case hinges on whether these wallets are legally abandoned under New York law, with a default judgment expected by late June 2026. However, even a judgment would not transfer private keys, only potentially freezing assets at regulated exchanges, making the legal claim more of a leverage tool than a direct ownership transfer.

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