Digital Chamber Urges Court to Reject Claims on Dormant Bitcoin Wallets

The Digital Chamber, a US digital-asset industry group, filed an amicus brief urging a New York state court to dismiss a lawsuit over the ownership of dormant Bitcoin wallets.

Cointelegraph reported on July 7 that the group argued in its filing that accepting the plaintiffs' claims would create broad uncertainty over ownership rights for self-custody wallets. That, it wrote, could undermine core principles of digital-asset property rights and negatively affect traditional financial markets.

The lawsuit was filed in May by a plaintiff using the pseudonym Noah Doe and two Wyoming-based companies. The plaintiffs asked the court to recognize their ownership of 39,069 Bitcoin wallets that had shown no movement for an extended period.

The wallets are reported to hold about 3.7 million Bitcoin, worth roughly $234 billion at current prices. The report said some of them were also believed to be linked to Bitcoin creator Satoshi Nakamoto.

Some of the dormant wallets, however, have begun moving again as the case proceeds.