Bitcoin Wallet From 2011 Moves $2.54M Amid $285B Lawsuit

A Bitcoin address that had held 35.55 bitcoin, worth about $2.54 million at current prices, moved its coins this week after staying untouched since March 2011. The wallet, known as 1LwWtSs7tMCwcRczQd5kVMv3xpWw6w4Sxe, sent 15 BTC to a new address and kept the remaining 20.55 BTC as change. This transaction was recorded in Bitcoin block 952,104 on June 2, according to data from mempool.space.

This move is notable because it appears to be one of the first public responses from a defendant named in a massive New York state lawsuit. The suit, filed on March 11, 2026, at the New York County Supreme Court, claims legal ownership over roughly 3.8 million bitcoin spread across 39,069 dormant wallets. That stash is valued at around $285 billion.

The plaintiff, who goes by the pseudonym Noah Doe, is trying to use New York’s lost-property law, Article 7-B, to claim these coins. Two Wyoming LLCs, ABC Company and XYZ Company, are also involved as holders of assigned interests. The court allowed the plaintiffs to notify defendants through OP_RETURN messages, which are tiny pieces of data embedded in Bitcoin transactions.

Noah Doe’s consultant, Salomon Brothers Strategic Advisors, sent out 98 batches of dust transactions between June and July 2025. Each carried 546 satoshis and a link to the abandonment notice. The 1LwWt wallet was served on July 31, 2025, and had 90 days to respond. The response came nearly seven months late, and roughly three months after the lawsuit was officially filed.

Galaxy Research’s Alex Thorn spotted the move on social media and identified the wallet as defendant #38215 in the case. He noted, “Apparently, they were not, in fact, abandoned.” Galaxy’s earlier analysis showed that hundreds of wallets moved their coins during the initial notice period and were removed from the final defendant list.

Another Old Wallet Stirred

Around 13 hours before the 1LwWt transaction, a different long-dormant wallet, 1CDSyXAQxro4FPUoqAQb81642ruqDsUiNp, also moved 20 BTC, worth about $1.48 million. This wallet received its coins around the same time in 2011, but it does not appear to be targeted by the Noah Doe campaign or named in the lawsuit.

These movements are happening while Bitcoin is under serious selling pressure. The price has slid to near $70,000 for the first time in weeks. Factors include Strategy’s first publicized bitcoin sale, a record 10-session streak of spot ETF outflows, and stalled ceasefire talks between the U.S. and Iran.

The Math on Old Coins

Satoshi-era coins, acquired when Bitcoin had almost no dollar value, offer near-infinite returns if sold at current prices. But whether these moves are a response to the lawsuit, a simple wallet management decision, or something else remains unclear. The case, with its unusual legal claim and blockchain-based service methods, is being watched closely.

For now, the 1LwWt wallet has made its move, but the broader court battle over lost Bitcoin from a decade ago is just getting started.

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