According to CoinTelegraph, a Bitcoin address identified as “1KV47” recently made its first-ever outbound transfer after remaining dormant for nearly 15 years. The address moved 30 BTC, worth about $1.88 million at current prices. It had not recorded any outgoing transaction since August 2011, making the move notable amid rising attention on legacy Bitcoin holdings returning to the chain.
Dormant lawsuit-linked addresses saw heavier movement in June
Galaxy Digital head of research Alex Thorn said dormant Bitcoin addresses connected to a New York lawsuit continued to show activity in June. Over the month, 31 addresses transferred a combined 17,527 BTC. That was well above the level seen in February, when 5 addresses moved 4,834 BTC. The comparison suggests a clear increase in transaction activity among this cluster of long-inactive wallets.
The lawsuit was filed by “Noah Doe” and two Wyoming companies. It covers 39,069 dormant addresses that collectively hold about 3.7 million BTC, valued in the report at around $234 billion. The group of addresses is said to include wallets associated with Satoshi Nakamoto, adding further weight to the case and to market interest in any on-chain movement tied to them.
One defendant, “John Doe 33,” has already filed a motion to dismiss. The argument is that Bitcoin addresses are simply strings of data and therefore do not constitute litigable property. The filing also argues that long-term dormancy should not be interpreted as abandonment of ownership rights. For now, the legal dispute and any further transfers from the addresses involved are likely to remain closely watched.