3.8M Bitcoin at Stake in New York Lost Wallet Lawsuit

A lawsuit filed in New York seeks to claim ownership of approximately 3.8 million Bitcoin held in around 39,000 allegedly dormant wallets.

The plaintiff, identified as Noah Doe, relies on New York's lost property law to make the claim, valuing each wallet at less than US$10 to fit within specific statutory provisions.

A court hearing scheduled for July 14 will consider procedural issues, including whether the plaintiff can remain anonymous and whether the notification process used for wallet holders constituted valid legal service.

New York attorney Ian Cohen has been granted permission to participate in the case as amicus curiae and argues that accepting the claim could encourage similar attempts to obtain legal title to dormant cryptocurrency wallets.