One of the Bitcoin addresses alleged to have been abandoned in a New York lawsuit moved for the first time since 2011, sending 75 BTC worth approximately $5 million to a new address.
According to CoinDesk, the transfer made Thursday evening also spent a small court-notice payment sent months earlier, along with the address’s old balance. It is unknown who controls the address or whether the transfer was related to the lawsuit.
Lawsuit covers approximately 3.8 million Bitcoin
The plaintiffs argue that Bitcoin in addresses inactive for at least five years should be considered abandoned property under New York law. They are asking the court to grant them ownership of approximately 3.8 million BTC held across 39,069 addresses.
Because the address owners’ identities are unknown, the court allowed notice to be provided through small Bitcoin payments containing links to the court filings. 546 satoshi were sent to the address on May 22. That small payment was spent in the same transaction as the 75 BTC on Thursday.
The transfer shows that the Bitcoin can still be moved and calls into question the claim that the assets at this address have been abandoned. The court’s approval of the notification method does not mean the ownership claim has been accepted.
Not investment advice.