NY lawsuit targets 3.79 million dormant Bitcoin wallets

A New York lawsuit seeks to declare Noah Doe owner of 39,000 dormant Bitcoin wallets holding 3.79 million BTC, arguing they are abandoned. Experts doubt enforceability due to private key requirements.

In May 2026, a series of lawsuits were filed in New York seeking to have Noah Doe declared the legal owner of over 39,000 dormant Bitcoin wallets, collectively holding about 3.79 million BTC—worth hundreds of billions of dollars. The targeted wallets are linked to Satoshi Nakamoto, early miners, Casascius Coin reserves, and known hacker addresses. Doe claims he identified these wallets using a proprietary algorithm, reported them to the NYPD, and attempted to contact potential owners before pursuing legal action. His argument frames the wallets as abandoned property under New York law, drawing parallels to unclaimed assets in traditional finance. Legal experts remain skeptical, noting that Bitcoin ownership is determined by possession of private keys rather than legal rulings, and that the legal framework for digital assets is still evolving. Ripple’s David Schwartz remarked that most court decisions would have little practical effect, though Bitcoin SV might recognize such a ruling. The lawsuits have sparked debate about the enforceability and legal status of dormant crypto assets.