New York judge pauses lawsuit over ownership of 390,000 dormant Bitcoin wallets, hearing scheduled for July 14

Odaily Odaily Planet Daily News Justice Kathy J. King of the New York Supreme Court has signed an order halting proceedings in a lawsuit seeking to claim ownership of 39,069 dormant Bitcoin wallets, and has scheduled a hearing for July 14 regarding a key amicus curiae brief.

The plaintiffs, identified under the pseudonym "Noah Doe" and two shell companies, seek to claim these wallets under New York's abandoned property law. Attorney Ian R. Cohen submitted an amicus curiae brief opposing the plaintiffs' claims. He argues that the abandoned property law is intended for tangible items, while blockchain addresses are always visible to the world; if the original owners are unable to withdraw assets due to security vulnerabilities, this constitutes a passive loss of access rather than voluntary abandonment. (The Block)