Legal Battle Over 39,069 Abandoned Bitcoin Wallets Worth Billions
Someone is trying to use lost property 'finder' laws to gain legal ownership of 39,069 Bitcoin wallets, with just one of them being worth nearly $6,000,000,000
Image: Pc Gamer
A man known as 'Noah Doe' is seeking legal ownership of 39,069 abandoned Bitcoin wallets, claiming to have followed proper procedures to return them to their owners. One wallet, linked to the Mt. Gox hack, contains nearly $6 billion worth of Bitcoin. The case could set a significant precedent for digital asset ownership.
- 01Noah Doe filed a complaint in the New York Supreme Court for ownership of 39,069 Bitcoin wallets.
- 02The wallets have been dormant for over five years, and Doe claims to have attempted to notify potential owners.
- 03One wallet in the collection is associated with the Mt. Gox hack, containing approximately 80,000 Bitcoins worth nearly $6 billion.
- 04Doe's efforts included using a strategic consultant and a blockchain expert to identify owners and notify them.
- 05The case raises questions about the legal status of digital assets and could influence future blockchain ownership disputes.
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Noah Doe, a man using a placeholder name, has filed a lawsuit in the New York Supreme Court to claim ownership of 39,069 seemingly abandoned Bitcoin wallets. His argument rests on having followed the city's lost property laws, which allow finders to claim ownership of unclaimed items after proper procedures are observed. Doe discovered these wallets through an algorithm and asserts that they have been inactive for at least five years. Notably, one wallet in this collection is tied to the infamous Mt. Gox hack, containing around 80,000 Bitcoins valued at nearly $6 billion. Doe’s attempts to reach out to potential owners included submitting wallet addresses to the police as lost property and issuing a public notice. The outcome of this case could set a significant precedent regarding the ownership of digital assets and the legal implications of blockchain technology.
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The case could influence future legal frameworks governing digital asset ownership in New York and beyond.
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