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dormant Bitcoin address moves 41.145 BTC worth $33.44 million

An ancient Bitcoin address, which has not seen any outgoing transactions since its deposit in 2013, moved 411.45 BTC, equivalent to approximately $33.44 million, in the early hours of October 19th. Galaxy Research noted that this address is among those claimed to be abandoned in the “Noah Doe” lawsuit in New York.

Ancient Bitcoin address, labeled “abandoned,” becomes active

Another old Bitcoin address, previously listed as “abandoned,” has become active. According to a monitoring report published by Galaxy Research on X, address 13Coop8xFbYj9JR9WyF5EqzGa9GiZmxs7C made its first outgoing transaction of 411.45 BTC, valued at approximately $33.44 million, at block height 972,036. Galaxy has labeled this address as “Noah Doe #970,” one of the addresses claimed to be abandoned in a New York lawsuit.

The transaction, recorded on mempool.space, occurred at 2:23 AM Taipei time on October 19th (Sunday, October 18th UTC). It utilized two unspent transaction outputs (UTXOs), which are unused incoming funds, and transferred them entirely to a new address, bc1q2e68…rvq0. As of the evening of October 20th Taipei time, no further transactions had been made from this new address.

The two UTXOs were deposited around block 257,411, on September 11, 2013, UTC (September 12th Taipei time). According to Arkham data cited by Decrypt, Bitcoin was trading at around $130 at the time, making the cost of these coins approximately $54,000. Galaxy estimates the average cost to be around $127 per BTC. Based on Galaxy’s valuation, the price of Bitcoin at the time of the transfer was approximately $81,300 (as calculated by BlockTempo).

Notably, the “notice” sent by the plaintiffs remains intact within the address. The address still holds over 20 micro-deposit transactions. A transaction of 548 satoshis in July 2025 included an OP_RETURN field with the message “NOTICE TO OWNER.” Another transaction of 546 satoshis on May 22, 2026, contained the message “COURT-ORDERED LEGAL NOTICE,” which directs to the case notification page of the plaintiffs’ law firm, Lewis & Lin.

The lawsuit, filed in the New York Supreme Court (a trial court of general jurisdiction) under case number 153119/2026, involves plaintiffs using the pseudonym Noah Doe and two Wyoming-based companies. According to Baker McKenzie, the plaintiffs filed suit in March 2026, invoking New York’s lost property law to claim ownership of 39,069 addresses containing approximately 3.8 million BTC, despite not possessing any private keys. The Block reported that Judge Kathy J. King suspended proceedings, including default judgments, in June. In July, other defendants filed motions to dismiss. As of this report, BlockTempo has not found any substantive rulings from the court.

The ability to move funds indicates that the holder possesses the private keys. According to Decrypt, Alex Thorn, head of research at Galaxy, has stated that the movement of dormant coins on the list is accelerating month by month. In September, an address from 2011 within the same case list also transferred out 40 BTC. Such transfers directly challenge the premise of the lawsuit that “dormancy implies abandonment.”