A defendant who controls one of the dormant Bitcoin wallets has moved to dismiss a New York lawsuit seeking ownership of 39,069 wallets described as lost. According to the report, the Bitcoin associated with those wallets is valued at roughly $229 billion. Based on the limited information currently available, the dispute centers on whether these long-inactive wallets can be treated as lost property and whether New York has a valid legal basis to claim ownership over them. The filing shifts immediate attention to the viability of the case itself before any final determination on asset ownership.
Defendant seeks dismissal of New York case
According to Cointelegraph, a defendant who owns one of the dormant Bitcoin wallets has filed a motion to dismiss a New York lawsuit. The case seeks ownership of 39,069 Bitcoin wallets that are considered lost. The report values the Bitcoin associated with those wallets at approximately $229 billion.
Ownership claim is now the central legal issue
Based on the information disclosed so far, the dispute is centered less on onchain movement and more on legal ownership. The key questions are whether the long-dormant wallets can be treated as lost property and whether New York has standing or a valid legal theory to claim them. By filing to dismiss, the defendant is effectively challenging the foundation of the lawsuit before the court reaches any final decision on who, if anyone, owns the underlying Bitcoin.
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