Early Bitcoin Wallet Involved in Lawsuit Transfers 75 BTC Held for Over 15 Years

On November 14 that, according to CoinDesk, an early Bitcoin wallet dormant since 2011 transferred approximately 75 BTC to a new address on Thursday, valued at around $5 million. The address had previously been named as a defendant in a New York lawsuit.

The lawsuit seeks a court ruling recognizing the plaintiff's ownership of approximately 3.8 million BTC across 39,069 addresses, arguing that wallets inactive for at least five years constitute abandoned property claimable under New York state law. The court allowed the plaintiff to notify unknown owners by sending nominal amounts of Bitcoin containing links to the legal filings.

The report noted that the transfer also moved the notification funds sent to the address in May. However, the identity of the wallet's controller remains unknown, and it is unclear whether the transfer was triggered by the litigation.