New York State Court Adjudicates Lawsuit Involving Ownership of 3.7 Million Bitcoins

According to Galaxy, the New York State Supreme Court has accepted a lawsuit in which the plaintiff is attempting to confirm ownership of addresses related to 3.7 million bitcoins (approximately $274 billion), including 21700 addresses owned by Bitcoin founder Satoshi Nakamoto, who holds 109 million bitcoins (worth $83.7 billion). The plaintiff Noah Doe (pseudonym) and two Wyoming companies request the court to rule that these bitcoins are lost property under the New York State Lost and Found Act and declare their legal ownership. The plaintiff had sent a "abandonment notice" to the relevant address through OP-RETURN, but even if they won the lawsuit, they were unable to obtain the private key or transfer Bitcoin. Galaxy stated that the verdict may be used for future property disputes.