$234B Dormant Bitcoin Lawsuit Faces Major Legal Challenge
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A pseudonymous wallet owner John Doe 33 asked a New York court to dismiss a lawsuit seeking control of 39,069 dormant Bitcoin addresses holding about 3.7 million BTC (roughly $234 billion), arguing public blockchain wallet addresses are public records and not property under New York law. The case, amid global efforts to trace, freeze and recover crypto assets, creates legal and regulatory uncertainty for asset recovery, custody and precedent on whether on-chain addresses constitute property.
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- A Bitcoin wallet holder asked a New York court to dismiss a lawsuit over $234 billion in dormant BTC.
- The case questions whether public Bitcoin wallet addresses can be treated as property under New York law.
- The legal battle comes as authorities expand efforts to trace, freeze, and recover crypto assets worldwide.
A legal fight over billions of dollars worth of dormant Bitcoin has reached a key stage after a pseudonymous wallet holder asked a New York court to throw out a lawsuit seeking ownership of thousands of inactive Bitcoin addresses.
In a filing made on Thursday, the defendant, identified as “John Doe 33,” argued that Bitcoin wallet addresses are public records on the blockchain and cannot be treated as property that can be sued under New York law.
The lawsuit seeks control of 39,069 dormant Bitcoin addresses holding about 3.7 million BTC, worth roughly …
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