The New York court accepts the case of "claiming dormant addresses of Satoshi Nakamoto and others for Bitcoin," with a total value of 274 billion dollars

Galaxy stated that in March of this year, the New York State Supreme Court quietly accepted a lawsuit aimed at confirming the ownership of over 3.7 million bitcoins (approximately $27.4 billion) associated with 39,069 bitcoin addresses, including addresses belonging to bitcoin founder Satoshi Nakamoto (a total of 21,744 addresses holding 1.09 million bitcoins, valued at $83.7 billion at current prices).

The plaintiffs are Noah Doe (a pseudonym) and two unnamed limited liability companies from Wyoming. Noah Doe requests the New York State Supreme Court to declare their ownership of these dormant addresses through a declaratory judgment action under New York State's lost property law (Section 7-B of the Personal Property Law) as per the New York Civil Practice Law and Rules Section 3001.

In short, they are trying to have the New York court rule that the bitcoins of bitcoin founder Satoshi Nakamoto (and many other lost address bitcoins) are considered lost property, and they claim the right to legally own them because they "found" these cryptocurrencies. From June 30 to July 10, 2025, they sent "abandonment notices" via OP_RETURN to each found address. However, even if they win completely, they will only receive a court statement; they will not obtain any private keys and will not be able to transfer any bitcoins from these addresses.

But Galaxy indicates that the real value of the New York ruling lies in its potential to act as a "title defect." If these bitcoins appear in any regulated venue, plaintiff Noah Doe could use this document to raise objections with exchanges or custodians.