New York Judge Stays Suit Over 39,069 Bitcoin Wallets Worth $285 Billion
A New York judge stayed a lawsuit seeking ownership of Bitcoin held in 39,069 long-dormant wallets and set a July hearing on a proposed amicus brief. The addresses have been described as containing about 3.8 million Bitcoin, or roughly $285 billion.
The suit argues the coins can be treated as abandoned property under New York law because the original owners were allegedly gone. Notice was sent to wallet addresses through small Bitcoin transactions linking to the claim, but movements from two 2011-era wallets and responses from hundreds of others during the notice period undermined the argument that the holdings had been abandoned.
From the sources (3 posts)
@bitcoinnewsNY Court Pauses Default Judgment After Lawyer Argues 39,069 Bitcoin Wallets Were Not Abandoned
@0xsweepSomeone is trying to legally steal $285 BILLION in Bitcoin without touching a single wallet The coins sit across 39,069 old wallets that have not moved in over a decade, around 3.8 million Bitcoin in total Their claim is that the original
@theblockcoNY judge stays lawsuit seeking ownership of nearly 40,000 bitcoin wallets, sets July hearing on proposed amicus brief