A wallet containing 35.55 BTC, inactive since March 2011, has moved coins for the first time. CoinDesk linked the address to a New York lawsuit where plaintiffs are claiming rights to 3.8 million BTC from tens of thousands of "dormant" accounts.
On June 2, the wallet (starting with 1LwWt) transferred 15 BTC, while another 20.55 BTC was sent to a change address. The transaction was included in block #952104. When the coins were received in 2011, Bitcoin was valued at less than $1.
CoinDesk connected the address to a lawsuit in the New York Supreme Court: the plaintiffs are seeking recognition of ownership for approximately 3.8 million BTC (around $285 billion) from 39,069 "dormant" addresses. They are requesting that the assets be declared abandoned property.
According to the documents, the lawsuit was filed on March 11, 2026, with clarifications submitted on May 1. The case lists an anonymous plaintiff, Noah Doe, along with two Wyoming companies — ABC Company and XYZ Company. The claims are made under Section 7-B of New York State's personal property law.
The court has allowed notification of the alleged coin owners through messages in the OP_RETURN field. Consultant Noah Doe — Salomon Brothers Strategic Advisors — sent out 98 series of "dust" transactions of 546 satoshis each in June and July 2025. The address 1LwWt received a notification on July 31, 2025, demanding confirmation of ownership by November 5, 2025.
Alex Thorn, head of research at Galaxy Research, noted that the company tracked this wallet as defendant #38215 in the Noah Doe case.
these very old coins were served by ‘Noah Doe’ in the abandoned property case
apparently they were not, in fact, abandoned 🤔 https://t.co/EMwKUFKZKs
— Alex Thorn (@intangiblecoins) June 2, 2026
"It turns out, they were actually not abandoned," he remarked.
CoinDesk also points out that the movement of funds occurred nearly seven months after the 90-day response deadline and about three months after the lawsuit was filed. According to Galaxy, during the initial notification distribution, hundreds of addresses had already moved their coins and were excluded from the final list of defendants.
As a reminder, CryptoQuant referred to the wave of selling "old" bitcoins as the "largest release" of long-term supply of the first cryptocurrency in history.