A New York court is set to decide the ownership of 39,069 abandoned Bitcoin wallets after a man, identified as Noah Doe, filed a lawsuit seeking legal title to these assets. Doe discovered the wallets using a self-developed algorithm and reported them to the NYPD, complying with lost property laws. Despite extensive efforts to locate the owners, including global outreach and blockchain verification, the wallets remained unclaimed.
The lawsuit, filed in the Supreme Court of the State of New York, seeks a declaratory judgment under New York Personal Property Law, arguing that Doe is entitled to the wallets as a finder. The case, involving dormant wallets identified through a security vulnerability, could set a precedent in crypto property law, determining if such assets can be claimed as lost property.
New York Court to Rule on Ownership of 39,069 Abandoned Bitcoin Wallets
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