Bitcoin wallet untouched since 2011 moves ₹44 crore after legal notice in $260 billion lawsuit targeting dormant BTC
A Bitcoin wallet untouched since February 2011 has moved its entire holding of 75 Bitcoin, worth about $5 million (around ₹44 crore), to a new address. The 12 November transfer has drawn attention because the wallet was among 39,069 addresses named in a New York lawsuit seeking ownership of nearly 3.8 million Bitcoin, valued at about $260 billion.
The transaction also moved a tiny Bitcoin payment sent to the address in May to deliver a court-ordered legal notice. The timing raises questions about a possible link to the lawsuit, but does not establish why the coins moved.
According to CoinDesk, the address was listed as defendant No. 3,419 in the amended complaint. It received its original 75 BTC in two transactions in February 2011 and had not spent those coins since.
On 22 May 2026, the address received 546 satoshis, worth less than 40 cents, in a transaction carrying the words “COURT-ORDERED LEGAL NOTICE” and a link to the plaintiffs’ notice page. A satoshi is the smallest unit of Bitcoin; one BTC equals 100 million satoshis.
The wallet had also received a small payment in July 2025 carrying an owner notice from Salomon Brothers Strategic Advisors, the consultant hired by the plaintiffs to contact holders of the targeted addresses.
On Thursday evening, the entire balance was transferred to a new address. The transaction combined six inputs, including the original Bitcoin and the small deposits used for the notices, leaving the old address empty.
The six inputs included the original holdings and four deposits, two carrying notices. Such payments, called dust transactions, are tiny amounts sent to an address and can carry information in transaction data. This allowed plaintiffs to reach addresses without knowing owners.
The transfer shows that someone had access to the private keys needed to spend the Bitcoin. It does not identify that person, prove the legal notice was read or confirm that the lawsuit prompted the move.
The case was filed in March 2026 by a plaintiff identified as Noah Doe and two Wyoming-based companies, ABC Company and XYZ Company. The plaintiffs are asking the New York Supreme Court to declare them the legal owners of Bitcoin held across 39,069 addresses.
Their claim is that wallets inactive for at least five years contain lost or abandoned property that can be claimed under New York law. They rely on Article 7-B of New York’s Personal Property Law, which deals with lost and found property.
The lawsuit covers approximately 3.8 million BTC, including coins attributed to Bitcoin’s pseudonymous creator, Satoshi Nakamoto. The estimated $260 billion value is based on the market value of the Bitcoin covered by the claim and changes with the cryptocurrency’s price.
The court permitted an unusual method of service BY sending small Bitcoin payments to the addresses, with messages embedded in transaction data linking to the legal papers.
A wallet can remain inactive even when its owner retains the private keys and has no intention of giving up the assets.
The dispute raises a distinction between establishing a legal claim and gaining practical control of cryptocurrency. Bitcoin can be spent only by someone with the relevant private keys. A court ruling for the plaintiffs would not, by itself, provide those keys or enable them to transfer the coins.
The legal basis is contested, and the ownership claim has not been finally decided.
They cite an expert assessment valuing the identified wallets at less than $10 on an “as-is” basis, reflecting uncertainty over whether their contents could be accessed.
In June, CoinDesk reported that another wallet holding 35.55 BTC since March 2011 moved 15 BTC, while the remaining 20.55 BTC returned to the same address as change.
Blockchain records show when coins move, but not necessarily who controls them or what motivates a transaction. The 75 BTC transfer complicates the plaintiffs’ argument that long-dormant holdings are abandoned, but does not settle the legal question or establish ownership.
Kirti jha
Kirti Jha is a Senior Content Producer at Mint, where she writes on mutual funds, taxation, personal finance and macroeconomic developments. Her reporting focuses on helping readers understand complex financial developments through data-driven, research-backed stories that explain how policy changes, market trends and regulatory decisions affect investors and households. <br><br> Before joining Mint, Kirti worked at ET Money, where she specialised in mutual fund research and investment analysis. She tracked portfolio disclosures, fund manager strategies, sectoral allocation shifts and investment trends, distilling large datasets into investor-focused insights. Her work combined quantitative analysis with consumer-centric storytelling, enabling readers to better understand fund positioning, portfolio changes and long-term investment opportunities.<br><br> Kirti holds a Bachelor's degree in Economics from Indraprastha College for Women, University of Delhi, and a Master's in Finance from the Jindal School of Banking & Finance at O.P. Jindal Global University. Her academic training emphasised analytical thinking, quantitative research and financial decision-making, providing a strong foundation in understanding capital markets, financial systems and economic policy. With a combined experience in investment research and financial journalism, she is committed to producing accurate, accessible and insightful journalism that empowers readers to make well-informed financial decisions.
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