200 BTC Moved as Lawyers Clash in $293B ‘Noah Doe’ Case

On June 19, 2026, a bitcoin address named in a New York case moved about 200 BTC while lawyers for the parties disputed whether a court-ordered stay should be lifted.

The lawsuit, ABC Company, XYZ Company, and Noah Doe v. John Does 1-39,069, seeks ownership of roughly 3.8 million BTC held across thousands of addresses. Plaintiffs say the addresses were abandoned and seek recovery under New York lost-property rules. The total value cited in court filings is about $293 billion.

On June 18, attorney David D. Lin filed an affirmation asking Judge Kathy J. King to vacate or modify a stay that the judge entered on June 4. Lin argued no defendant has appeared or retained counsel and that normal deadlines for answering the complaint should apply.

Ian R. Cohen opposed that request on June 19 in an 11-page filing. He said lifting the stay would resume procedures that could lead to default judgments against tens of thousands of alleged wallet holders who likely have not received meaningful notice. Cohen stressed that blockchain records are public and that onchain activity undermines an abandonment claim.

Independent blockchain analysis provided additional data. Alex Thorn of Galaxy Research reported that 52 addresses named in the suit moved a total of 34,335 BTC onchain since the complaint was filed, a sum the firm valued at about $2.48 billion. Thorn noted that 29 of those addresses moved 12,302 BTC after they were served in the case.

Analysts also highlighted specific transactions tied to the litigation, including a roughly 199.216 BTC spend from a 2012 wallet and the June 19 transfer identified as wallet number 1504. Earlier movements cited in filings and analysis included a June 6 transfer of 47.26 BTC from a wallet dormant since 2011 and a redemption of a 25 BTC physical coin.

Service of process and notice methods are a central legal dispute. Plaintiffs have used OP_RETURN messages embedded in bitcoin transactions and public notices to reach wallet holders. Cohen argued most wallet software does not prominently display OP_RETURN data and that dust-sized transactions carrying legal notices can be mistaken for spam or address-poisoning attempts, leaving many owners unaware.

The court will hear arguments on July 14, 2026, including Cohen’s request to participate as amicus curiae and whether the stay should remain. The judge is expected to consider whether dormant, self-custodied bitcoin can be treated as abandoned property, whether New York courts can assert jurisdiction over thousands of globally distributed wallet holders, and whether blockchain-based notice meets constitutional due process requirements.

The recent onchain activity and filings will be part of the factual record the judge reviews as the case proceeds.