BlockBeats News, June 1st, According to Galaxy Research, in March of this year, the New York State Supreme Court quietly accepted a lawsuit aimed at confirming ownership of over 3.7 million bitcoins (approximately $274 billion) associated with 39,069 bitcoin addresses, including addresses linked to Bitcoin's creator, Satoshi Nakamoto (comprising 21,744 addresses holding 1.09 million bitcoins, valued at $83.7 billion at current prices).

The plaintiff is Noah Doe (a pseudonym) and two unnamed Wyoming limited liability companies. Noah Doe is requesting the New York State Supreme Court, under New York's Abandoned Property Law (Section 7-B of the Personal Property Law), to declare through a declaratory judgment action (Rule 3001 of the New York Civil Practice Law and Rules) that they own these dormant wallets.

In essence, they are attempting to have the New York court rule that Bitcoin belonging to Satoshi Nakamoto (and many other lost address bitcoins) is abandoned property, and they are entitled to legitimate ownership of them for having "found" these cryptocurrencies. Between June 30, 2025, and July 10, 2025, they sent a "disposition notice" to each discovered address via the OP_RETURN.

However, even if they win the case completely, they will only receive a court statement in the end. They will not obtain any private keys and will not be able to transfer any bitcoins from any of these addresses. But Galaxy stated that the true value of the New York judgment lies in its ability to act as a "cloud on title," allowing plaintiff Noah Doe to challenge exchanges or custodians with this document if these bitcoins ever surface in any regulated venue.