Bitcoin Wallet from Satoshi Era Moves $3.09M, Thwarts New York Court Case

A historic event has taken place on the Bitcoin blockchain as one of the oldest wallets from the Satoshi era has come back to life. According to Galaxy Research, a transaction involving 40 BTC was processed in block 965330. These assets had remained untouched since Nov. 5, 2011, almost 15 years.

By moving the coins, the original owner of the address demonstrated a net gain of 2,571,899%. In November 2011, Bitcoin's average market price was only around $3 per coin.

This transaction represents more than just taking profits. The sender's address is tagged on-chain as Noah Doe #38097 and directly links the wallet to a class-action lawsuit in New York State Supreme Court.

A group of pseudonymous plaintiffs is trying to obtain ownership rights to 39,069 dormant Bitcoin addresses worth a combined $293 billion. They argue that if cryptocurrency has not moved for more than five years, it is considered 'abandoned,' and a third party can claim ownership.