$293B Bitcoin ‘Noah Doe’ Lawsuit Faces Major Test After First Wallet Holder Files Motion to Dismiss

Inside the $293 Billion Bitcoin Claim

The lawsuit, filed March 11, 2026, successful the New York Supreme Court, seeks a declaratory judgement awarding ownership of astir 39,069 dormant bitcoin addresses collectively holding an estimated 3.8 cardinal BTC.

The plaintiffs, identified lone arsenic Noah Doe on with Wyoming entities ABC Company and XYZ Company, reason they became entitled to the wallets aft allegedly identifying dormant addresses with proprietary software, delivering lists of those addresses to the NYPD arsenic recovered property, and invoking New York’s Personal Property Law Article 7-B governing mislaid property.

The wallet database includes addresses publically associated with the 2011 Mt Gox hack, the Counterparty burn address, and much than 21,000 addresses researchers person linked to the Patoshi mining signifier wide attributed to Bitcoin creator Satoshi Nakamoto. Even if the plaintiffs yet prevailed, a favorable judgement would not let them to walk immoderate bitcoin due to the fact that lone the corresponding private keys authorize transactions connected the Bitcoin network.

Court Hit the Brakes Before Default Judgment

The lawsuit appeared headed toward a imaginable default judgement until June 5, erstwhile Justice Kathy J. King stayed further proceedings aft New York lawyer Ian R. Cohen submitted a projected amicus curiae little challenging the plaintiffs’ ineligible theory.

Cohen argued that New York’s lost-and-found statute governs tangible property, not blockchain addresses, and maintained that prolonged inactivity does not represent ineligible abandonment. He besides questioned whether the plaintiffs decently served thousands of wallet owners done OP_RETURN messages embedded successful bitcoin transactions and raised broader jurisdictional concerns.

The enactment remains successful spot portion the tribunal considers aggregate pending motions. On June 18, plaintiffs’ counsel asked the tribunal to vacate oregon constrictive the stay, arguing the litigation should proceed contempt the amicus filing.

First Wallet Holder Enters the Fight

The litigation took different important crook connected June 30 erstwhile a pseudonymous responsive identifying himself arsenic “John Doe 33” filed some a notice of appearance and a question to dismiss, becoming the archetypal existent wallet holder to contention the lawsuit.

In the filing, John Doe 33 states helium is “a earthy idiosyncratic and a existent quality being,” not a bitcoin address, integer wallet oregon enactment of root code. He further explains that the pseudonym is intended to support his individuality due to the fact that of the well-known information risks associated with publically identified cryptocurrency holders, portion reserving each ineligible defenses against the action.

His quality materially changes the posture of the case. Until now, the plaintiffs mostly faced nary nonstop absorption from named wallet owners, leaving unfastened the anticipation that overmuch of the litigation could proceed without existent respondents participating.

Another 500 BTC Move Weakens the Abandonment Theory

Just 2 days aft the filing, different defendant’s wallet became progressive onchain.

On July 2, 2026, 500 BTC moved from code 1HnVSXAMkCUHD8EeRxnNXXB6B12oQ9URpV, identified arsenic wallet No. 881 successful the Noah Doe lawsuit. Blockchain records amusement the transaction transferred the full equilibrium fundamentally aft paying astir 57,000 satoshis successful web fees.

The transportation joins a increasing database of wallets named successful the ailment that person moved funds since the litigation began attracting nationalist attention. Previous enactment included astir 35.55 BTC from a 2011-era wallet connected June 2, 47.26 BTC connected June 6, astir 1,878 BTC from a 2019 wallet connected June 7, and astir 199.216 BTC from a 2012-era code connected June 19.

Each further transaction presents different situation to the plaintiffs’ cardinal contention that the wallets were abandoned by their owners. The increasing fig of progressive addresses has go 1 of the astir intimately watched aspects of the litigation among ineligible observers and onchain analysts.

What Happens Next?

The adjacent large milestone comes connected July 14, 2026, erstwhile oral arguments are scheduled for 10:30 a.m. earlier Justice Kathy J. King astatine New York County Supreme Court.

The proceeding is expected to code Cohen’s amicus application, the plaintiffs’ petition to modify oregon assistance the stay, and the recently filed question to disregard by John Doe 33, among different procedural issues.

The result could find whether the lawsuit resumes, remains paused, oregon is narrowed earlier reaching the merits. Regardless of the court’s decision, the operation of an progressive suspect entering the litigation and continued question from wallets named successful the ailment has added caller obstacles to 1 of the astir antithetic ineligible challenges ever brought against dormant bitcoin holdings.