TechFlow news, July 06, according to Cointelegraph, Bitcoin address "1KV47" recently completed its first transfer operation in nearly 15 years, moving 30 BTC (approximately $1.88 million) out of the wallet; the address initially received the aforementioned Bitcoin in August 2011. This address is one of 39,069 listed addresses in a New York lawsuit, where plaintiff "Noah Doe" and two Wyoming companies attempt to claim ownership of these dormant Bitcoins based on New York State lost property law. According to data from Galaxy Digital Head of Research Alex Thorn, 31 related addresses had already transferred 17,527 BTC in June, a significant increase compared to 4,834 in February. Legal experts pointed out that address dormancy is not equivalent to abandonment of ownership, and in the absence of proof of private keys, the basis of the lawsuit is "extremely weak".
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