Dormant Bitcoin Abandoned Property Lawsuit
The lawsuit over dormant Bitcoin wallets could set a legal precedent for treating self-custodied Bitcoin as abandoned property.
Too little corroboration in the last 3 days to call a trend (6 articles). Watching for it to gain traction.
Still mostly niche and specialist coverage — not yet picked up broadly by mainstream press.
"Galaxy researchers reached a similar conclusion. Thorn said Galaxy identified 52 named addresses that collectively moved 34,335 BTC, while 29 of those addresses transferred 12,302 BTC after receiving notice of the lawsuit."
"The most recent movement of Address #37923 shows that at least one of these 'abandoned' owners is very much alive and well."
"Schwartz wrote on X that the case’s 'most serious flaw' is that it alleges jurisdiction because the property is allegedly located in New York."
"The 1LwWt move, occurring after the lawsuit was already underway with the wallet named as a defendant, is among the first publicly visible responses from inside the active case."
"Old wallets remain difficult legal targets because blockchain ownership depends on private keys."
"The central legal question is whether dormant, self-custodied Bitcoin wallets can be treated as abandoned property under existing state law."