A Bitcoin address, inactive for nearly 15 years, has transferred 30 BTC, valued at approximately $1.88 million. The address, known as "1KV47," initially received the Bitcoin in August 2011 and is part of a New York lawsuit involving 39,069 addresses. The lawsuit, filed by "Noah Doe" and two Wyoming companies, seeks to claim ownership of these dormant Bitcoins under New York State lost property law.
Data from Galaxy Digital's Alex Thorn reveals that 31 related addresses moved 17,527 BTC in June, a notable increase from 4,834 BTC in February. Legal experts argue that dormancy does not imply abandonment, and without proof of private keys, the lawsuit's foundation is considered "extremely weak."
Dormant Bitcoin Address Transfers 30 BTC Amid New York Lawsuit
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