The blockchain association Digital Chamber has filed an amicus brief with the New York State Supreme Court, demanding the dismissal of a lawsuit concerning rights to inactive Bitcoin wallets. The organization warns: if the court recognizes such addresses as abandoned property, it will create serious risks for the entire concept of self-custody of digital assets.

Digital Chamber unites over 250 market participants, including crypto exchanges, banks, and investment companies. According to the association, granting the lawsuit would lead to long-term storage and the absence of transactions being interpreted as abandonment of property. "The plaintiffs demand recognition of their ownership rights to hundreds of billions of dollars in digital assets solely because these assets have not moved," the brief emphasizes.

The Essence of the Plaintiffs' Claims

The lawsuit was filed on behalf of the pseudonymous Noah Doe and two companies from Wyoming. They claim to have found 42,001 inactive Bitcoin addresses, recorded their public data on USB drives, and handed them over to the New York Police Department. However, Digital Chamber disputes this logic: "What he 'found' was not the wallets themselves, but electronic records of addresses — that is, public keys."

The plaintiffs sent notifications to the address owners via OP_RETURN, giving them 90 days to confirm activity. As a result, 2,932 addresses were removed from the list, and the remaining 39,069 were declared abandoned.

The Problem of Private Keys

Even if the plaintiffs win the case, they will not have access to the coins without the private keys. Digital Chamber notes: "The declaration the plaintiffs seek would provide a paper title to property, unconnected to either possession or access to the property." This creates a "cloud of uncertainty" that could affect not only the crypto industry but also traditional financial markets.

Previously, Bitcoin lawyer Ian Cohen also filed an amicus curiae, stating that the law on found property is designed for physical objects, not for the results of scanning a public blockchain. The pseudonymous defendant John Doe 33, associated with a wallet holding 5,000 BTC (~$300 million), filed a motion to dismiss the lawsuit, arguing that the suit is filed against address strings, which are not legal entities.

Dormant Addresses Awaken

According to the head of research at Galaxy, in June 2026, 31 addresses from the list transferred 17,527 BTC. For comparison, in February, movement occurred on five addresses totaling 4,834 BTC. On July 5, address 1KV47, inactive for nearly 15 years, transferred 30 BTC (~$1.88 million).

In total, the 39,069 inactive addresses hold approximately 3.799 million BTC, including addresses linked to Satoshi Nakamoto and the Mt. Gox hack. CryptoQuant called this wave of selling "old" Bitcoins the largest release of long-term supply in history.

My analysis: This lawsuit is not just a legal oddity but a direct attack on the fundamental principle of "not your keys, not your coins." If the court sides with the plaintiffs, it will set a precedent where any long-term holder risks losing their assets due to formal "inactivity." The market is already reacting: the awakening of "dormant" addresses may be an attempt by owners to protect their rights before the court makes a decision.