2011 Bitcoin Wallet Moves $2.54M After New York Service

A bitcoin address that had been inactive since March 27, 2011 moved 35.546709 BTC, roughly $2.54 million, on June 2, 2026. The transfer appeared in block 952104 and followed on-chain dust transactions used to serve the address in a New York abandoned-property lawsuit.

The address, 1LwWtSs7tMCwcRczQd5kVMv3xpWw6w4Sxe, received its first coins on March 27, 2011 when one bitcoin traded for about $0.87. The wallet was identified by on-chain researchers as a defendant in litigation filed March 11, 2026 in New York County Supreme Court under Index No. 153119/2026 by a plaintiff using the name “Noah Doe.” The case seeks title to 39,069 wallets holding approximately 3,799,629 BTC, a sum the plaintiff values at about $293.5 billion.

The plaintiff invoked Section 257(2) of New York’s Personal Property Law, arguing each targeted address is worth under $10 so title could vest in the finder after one year rather than undergo a longer custodial holding period. The court authorized notice by on-chain messages placed in OP_RETURN fields. The plaintiff executed 98 batch transactions across Bitcoin blocks 950446 to 950576, sending 546 satoshis to each targeted address with a link to the court filings.

Galaxy Research flagged the June 2 transaction. Analyst Alex Thorn noted the address had been tracked as “Noah Doe #38215” and listed as “Salomon-dusted,” a reference to the small satoshi transfers used for service. Thorn wrote: “These very old coins were served by \”Noah Doe\” in the abandoned property case. Apparently, they were not, in fact, abandoned.”

Galaxy Research presented on-chain totals for the full set of targeted addresses that differ from the plaintiff’s valuation. The 39,069 wallets average about 97.25 BTC each and the median holds 50 BTC. Thorn described the gap between the plaintiff’s per-address $10 figure and the on-chain holdings as nine orders of magnitude.

Legal commentators and on-chain analysts note that a court order granting title would not transfer private keys. A New York judgment could be used to seek freezes at regulated custodians or exchanges if coins tied to the named addresses appear there, requiring custodians to hold assets while ownership is resolved. A technical default judgment was expected around late June 2026, roughly 30 days after the on-chain service; Thorn estimated the chance the court grants the full title-vesting declaration on default as low to moderate.

The case will proceed as courts address whether the on-chain service method meets legal standards and whether additional holders of served addresses respond to the filings.