New York Lawsuit Seeks Control of 3.8 Million Bitcoin

A lawsuit filed in New York aims to claim ownership of nearly 18% of Bitcoin's total supply, approximately 3.8 million BTC, by applying a state lost-property law.

The plaintiffs, led by Noah Doe and two companies, are using the framework of Article 7-B of the New York Personal Property Law to support their claim.

The article defines property that can be claimed as lost if someone turns it over to police after a year of failed efforts to find the owner.

The plaintiffs point to an OP_RETURN notice campaign, press releases, and claims made during a window as evidence that the coins are considered lost property, despite being dormant for years.

A key provision in the CLARITY Act draft, Section 20216, would protect self-custodied digital assets from being treated as abandoned due to inactivity alone.