Satoshi Nakamoto

Bitcoin

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<p><strong>Cardano founder Charles Hoskinson has criticized a New York lawsuit that seeks legal ownership of thousands of dormant Bitcoin wallets.</strong></p>
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 <div class="cn-block-summary__nav tabs"><span>Summary</span>
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   <li>A New York lawsuit seeks ownership of 39,069 dormant Bitcoin wallets under lost-property law.</li>
   <li>The wallets reportedly hold about 3.7 million BTC, including Satoshi-linked and Mt. Gox-linked addresses.</li>
   <li>Charles Hoskinson criticized the case, arguing inactivity should not equal abandonment in self-custody.</li>
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<p>The case has drawn attention because it tests whether inactivity in a self-custodied wallet can be treated as abandoned property under state law.</p>
<h2 class="wp-block-heading" id="strong-new-york-lawsuit-targets-dormant-bitcoin-wallets-strong"><strong>New York lawsuit targets dormant Bitcoin wallets</strong></h2>
<p>A plaintiff using the name Noah Doe filed the case in the Supreme Court of the State of New York on May 1, 2026. The lawsuit asks the court to declare ownership of 39,069 dormant Bitcoin wallet addresses.</p>
<p>According to reporting on the filing, the plaintiff claims he used an algorithm to identify wallets that had shown no activity for at least five to six years. The addresses were later reported to the NYPD as found property.</p>
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<p>The lawsuit cites New York Personal Property Law Article 7-B, which deals with found and abandoned property. The complaint says notices were sent through OP_RETURN messages, a public webpage, and a press release.</p>
<p>Some wallets were removed from the list after showing on-chain activity. The remaining addresses did not respond during the notice period, according to the claim.</p>
<h2 class="wp-block-heading" id="strong-hoskinson-criticizes-the-legal-claim-strong"><strong>Hoskinson criticizes the legal claim</strong></h2>
<p>Hoskinson reacted sharply on X after the case circulated across crypto accounts. He wrote, “Hey, you left that cash in your safe too long. I want it!”</p>
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   <p>Hey, you left that cash in your safe too long. I want it! give me give give me. Lawyers continue to be the scum of the earth <a href="https://t.co/BhpIve2dH3" rel="noopener noreferrer nofollow">https://t.co/BhpIve2dH3</a></p>— Charles Hoskinson (@IOHK_Charles) <a href="https://x.com/IOHK_Charles/status/2059710330109128747?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 27, 2026</a>
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<p>He also wrote, “Lawyers continue to be the scum of the earth.” His comments reflected strong concern from parts of the crypto market over whether dormant wallets can be treated like forgotten bank accounts.</p>
<p>The lawsuit does not claim that the plaintiff has the private keys to the wallets. That matters because Bitcoin cannot be moved without the correct cryptographic signature.</p>
<p>Even if a court issued an ownership order, the network would not transfer the coins by itself. A judgment could create a legal claim, but it would not unlock the <a href="https://crypto.news/bitcoin-reserve-plan-gets-20-year-lock-in-new-arma-bill/" rel="noopener noreferrer nofollow">Bitcoin</a>.</p>
<h2 class="wp-block-heading" id="strong-self-custody-question-moves-into-court-strong"><strong>Self-custody question moves into court</strong></h2>
<p>The central issue is whether a self-custodied Bitcoin wallet can be declared abandoned because it has not moved for years. Many long-term Bitcoin holders keep coins untouched in cold storage as a security practice.</p>
<p>That makes the case different from a bank account or exchange account. Those systems have custodians, account records, and legal processes for dormancy. Bitcoin wallets exist outside that structure.</p>
<p>As previously <a href="https://crypto.news/bitcoin-wallet-suit-targets-285b-in-dormant-coins/" rel="noopener noreferrer nofollow">reported</a> by crypto.news, the listed wallets may hold about 3.7 million BTC, valued near $285 billion at current prices. The list reportedly includes addresses linked to Satoshi Nakamoto and the Mt. Gox hacker.</p>
<p>The same report noted that legal notices may face technical questions because some old wallet balances sit in older script formats. That could become part of the dispute if the court reviews whether notice was valid.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-property-rights-face-fresh-scrutiny-strong"><strong>Bitcoin property rights face fresh scrutiny</strong></h2>
<p>The case arrives as U.S. lawmakers continue to debate digital asset ownership, custody, and market rules. Recent policy proposals have also addressed the right to own, transfer, and self-custody digital assets.</p>
<p>Supporters of strict self-custody protections argue that wallet inactivity should not be enough to show abandonment. They say owners may hold Bitcoin for many years without making transactions.</p>
<p>For now, the lawsuit remains a legal claim, not a ruling. The court has not declared Noah Doe the owner of the wallets or the Bitcoin tied to them.</p>
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Charles Hoskinson slams lawsuit targeting dormant Bitcoin wallets

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