A $293 billion fight over Satoshi’s Bitcoin just got a lot more complicated
A New York lawsuit seeking ownership of 39,069 long-dormant Bitcoin wallets has narrowed after plaintiffs voluntarily dropped 44 defendants that moved coins after the case began. That move strengthens scrutiny of the plaintiffs’ core theory: that blockchain inactivity can prove abandonment and justify a court declaration of ownership. The remaining wallets still include addresses tied to Bitcoin’s earliest era and potentially Satoshi-era coins. Blockchain researchers say the removed wallets were not truly dormant; they moved large amounts of BTC after the suit was filed. The case now hinges on whether silence alone can mean abandonment, and whether a wallet becomes “active” only when it signs a transaction. One defendant, John Doe 33, has appeared to contest jurisdiction and argue that public addresses are not legal persons, that copying blockchain data onto USB drives did not mean plaintiffs possessed the coins, and that OP_RETURN notices were inadequate. Outside filings warn that accepting the plaintiffs’ theory could pressure Bitcoin holders to transact just to prove continued ownership.
