Trending Now - Court to Rule on Ownership of 39,000 Unclaimed Bitcoin Wallets
WHO:
NewsBTC - A New York man identified as Noah Doe is the plaintiff in the lawsuit.
NewsBTC - The lawsuit involves two assignee companies, identified as ABC Company and XYZ Company.
Bitcoinist - The lawsuit is also associated with two Wyoming LLCs.
WHAT:
NewsBTC - The total number of wallets identified by Noah Doe was 42,001, of which 2,932 were subsequently removed, leaving 39,069 wallets that are the subject of the lawsuit.
NewsBTC - The independent expert engaged by Noah Doe to assess the wallets' value was Salomon Brothers Strategic Advisors Inc.
NewsBTC - The blockchain expert transmitted an OP_RETURN message to every found wallet in late June 2025, directing holders to an abandonment notice webpage hosted by Salomon Brothers.
NewsBTC - The abandonment notice gave holders 90 days to claim ownership, until October 10, 2025.
NewsBTC - Noah Doe transferred ownership rights in all but 18 of the wallets to ABC Company on December 1, 2025, which subsequently transferred 17.7% of those rights to XYZ Company.
NewsBTC - Noah Doe has filed a lawsuit seeking legal ownership of 39,069 abandoned Bitcoin wallets.
Bitcoinist - The lawsuit seeks a court declaration over tens of thousands of long-dormant Bitcoin addresses that are claimed to hold about 3.79 million BTC.
NewsBTC - The complaint seeks a declaratory judgment under New York Personal Property Law, asserting that the wallets constitute lost property.
WHERE:
NewsBTC - The lawsuit was filed in the Supreme Court of the State of New York.
NewsBTC - Noah Doe conducted his research and discovery in New York City.
WHEN:
NewsBTC - The First Amended Complaint was filed on May 1, 2026.
NewsBTC - Noah Doe identified the security vulnerability affecting digital wallets in October 2024.
NewsBTC - The wallets were identified between December 26, 2024, and April 14, 2025.
NewsBTC - The abandonment notice gave holders until October 10, 2025, to claim ownership.
NewsBTC - Noah Doe transferred ownership rights in all but 18 of the wallets to ABC Company on December 1, 2025.
WHY:
NewsBTC - Noah Doe argues he is a finder under New York Personal Property Law Article 7-B, claiming title to the abandoned wallets after failing to locate their owners.
HOW:
NewsBTC - Noah Doe's algorithm identified three separate batches of found wallets: 1,544 in December, 546 in March, and 39,911 in April, all identified using his personal computer in New York City.
NewsBTC - Noah Doe developed a self-created algorithm to identify dormant Bitcoin wallets that had been inactive for at least five years.
NewsBTC - He reported the found wallets to the NYPD in compliance with lost and found property law.
NewsBTC - An independent expert assessed the wallets' value, concluding it was less than $10 at the time of finding.
NewsBTC - A blockchain expert transmitted an OP_RETURN message to each found wallet directing holders to an abandonment notice webpage.
NewsBTC - A global press release was issued on August 7, reaching an estimated 820 media outlets across 37 countries.
(UPDATED May 25, 2026 15:49 UTC)
Noah Doe has identified a total of 42,001 wallets, with 39,069 remaining after 2,932 were removed, and these wallets are now the focus of a lawsuit. An independent expert from Salomon Brothers Strategic Advisors Inc. assessed their value and sent an OP_RETURN message to each wallet in late June 2025, directing holders to an abandonment notice webpage that allowed them to claim ownership until October 10, 2025. Doe transferred ownership rights for all but 18 of the wallets to ABC Company on December 1, 2025, which then transferred 17.7% of those rights to XYZ Company.
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(UPDATED May 25, 2026 13:57 UTC)
Noah Doe, a New York man, has filed a lawsuit in the Supreme Court of the State of New York seeking legal ownership of 39,069 abandoned Bitcoin wallets, which he claims hold about 3.79 million BTC. The lawsuit involves two assignee companies, ABC Company and XYZ Company, and asserts that the wallets constitute lost property under New York Personal Property Law. Doe identified the wallets through a self-created algorithm and reported his findings to the NYPD, but after failing to locate the original owners, he is now seeking a court declaration to solidify his claim.