A Bitcoin address that remained dormant since September 2013 executed its first outgoing transfer on October 18, 2026, moving 411.45 BTC valued at approximately $33.4 million. The funds were sent to a new, unlabeled wallet rather than a cryptocurrency exchange, leaving the owner’s intent to sell or hold unclear.
Galaxy Research identified the sending address as part of a group targeted by the “Noah Doe” lawsuit, which seeks ownership of dormant wallets under New York abandoned property laws. This movement challenges the legal premise that these assets are truly abandoned, as accessing them requires possession of the private keys.
Key facts
- The address was first funded on September 11, 2013, and had never sent coins until this transaction.
- The transfer involved 411.45 BTC, worth about $33.4 million at current market rates.
- Funds moved to an unlabeled address, not to a known exchange service.
- Galaxy Research tagged the wallet as one of 39,069 addresses named in the Noah Doe lawsuit.
- The original cost basis for the coins was approximately $54,000 when Bitcoin traded near $130.
Why it matters
The transfer demonstrates that at least some wallets targeted by the lawsuit are actively controlled by individuals holding private keys, directly contradicting the claim that these assets are abandoned property.