Satoshi BTC Abandoned Property Lawsuit
Claims that large Bitcoin holdings are abandoned property lack merit because recent blockchain activity proves the addresses remain accessible and controlled
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
Still mostly niche and specialist coverage — not yet picked up broadly by mainstream press.
"52 of those specific addresses have transferred roughly 34,335 Bitcoin...The real-time spending of these assets proves the plaintiffs' targeting algorithm failed to differentiate between abandoned wallets and long-term cold storage"
"In the realm of blockchain infrastructure, possession of a private key inherently constitutes legal ownership...A dormant address...is not abandoned property but rather a digital savings vehicle that simply has not been moved"
"The researchers at Galaxy found 52 names that moved 34,335 BTC, with 29 of those receiving an alert about the lawsuit transferring 12,302 BTC. It has raised doubts about the notion that the wallets were abandoned or inaccessible."
"Cohen has stated that the lost property law in New York does not cover self-custodied Bitcoin. He added that wallet dormancy does not constitute abandonment, and that New York courts have no jurisdiction over private keys."