A Bitcoin address that had held 35.55 bitcoin since March 2011 moved its coins earlier this week. The wallet, 1LwWtSs7tMCwcRczQd5kVMv3xpWw6w4Sxe, sent 15 BTC to a new address and kept the remaining 20.55 BTC as change. The transaction was recorded in Bitcoin block 952,104 on June 2. The original coins were bought when bitcoin traded at less than a dollar.
This move is one of the first publicly visible responses from a named defendant in a New York state lawsuit. The lawsuit, filed March 11, 2026, at the New York County Supreme Court, claims legal title over 39,069 dormant bitcoin wallets. The plaintiff is a pseudonymous person named Noah Doe, along with two Wyoming LLCs holding assigned interests.
The plaintiffs seek ownership of roughly 3.8 million bitcoin valued at around $285 billion. They are using New York Personal Property Law Article 7-B, the state’s lost-property statute. Noah Doe is positioned as a “finder” under abandoned-property doctrine.
The court authorized on-chain service of the defendants through OP_RETURN messages. These are Bitcoin transaction fields that let users embed short text or URLs permanently on the blockchain. Noah Doe’s consultant broadcast 98 batches of dust transactions across Bitcoin blocks in June and July 2025. Each carried 546 satoshis and a link to the abandonment notice. The 1LwWt wallet was served on July 31, 2025, with a 90-day window to respond.
Reactions and Market Context
Galaxy Research’s Alex Thorn flagged the move on X Tuesday morning. He identified the wallet as the firm’s tracked Noah Doe defendant number 38215. “Apparently, they were not, in fact, abandoned,” Thorn wrote. The move came nearly seven months after the response window expired and roughly three months after the lawsuit was formally filed.
Per Galaxy’s analysis, hundreds of wallets moved coins during the original notice campaign and were excluded from the final defendant list. The 1LwWt move, occurring after the lawsuit was underway with the wallet named as a defendant, is among the first publicly visible responses from inside the active case.
Another Dormant Wallet Moved
Separately, a 15-year-dormant wallet, 1CDSyXAQxro4FPUoqAQb81642ruqDsUiNp, moved 20 BTC (worth $1.48 million) to a SegWit address roughly 13 hours before the 1LwWt move. That wallet received its original coins around the same 2011 window but does not appear to have been targeted by the Noah Doe notice campaign or named in the lawsuit.
Market Conditions
The movements come during a sharp bitcoin slide. BTC has dropped to near $70,000 for the first time in weeks. Several factors are weighing on the market: Strategy’s first publicized bitcoin sale, a record 10-session spot ETF outflow streak, and stalled U.S.-Iran ceasefire talks.
Satoshi-era coins were acquired before bitcoin had a meaningful dollar price. Any sale at current levels would mark a near-infinite gain on cost basis. This means the movers could be sitting on enormous profits, though their motivations remain unclear.
