A New York state court case is attempting to exploit lost property laws to claim legal ownership of nearly 40,000 dormant Bitcoin addresses, including wallets attributed to Bitcoin's pseudonymous creator Satoshi Nakamoto, by valuing each at under $10. The amended complaint, filed on behalf of a pseudonymous plaintiff called Noah Doe alongside two co-plaintiffs, asks the court to transfer ownership of 39,069 Bitcoin addresses. By assigning a nominal valuation far below market value, the lawsuit appears designed to sidestep scrutiny of the actual holdings, which could be worth billions at current prices. The case raises significant legal questions about property rights, blockchain ownership, and whether dormant crypto wallets can be reclassified under traditional lost property statutes.
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