Bitcoin 'Lost Property' Lawsuit Countered, Defendant Files Motion to Dismiss Case Claiming 3.7 Million BTC

CoinFeed July 3 news, according to Cointelegraph, a defendant claiming to be 'John Doe 33' has filed a motion in a New York court to dismiss a lawsuit seeking ownership of 39,069 Bitcoin addresses. The plaintiffs are 'Noah Doe' and two Wyoming LLCs, alleging approximately 3.7 million BTC (around $234 billion) in the relevant addresses is 'lost property,' and they have reported it to police and claimed ownership under New York's lost property law. The defendant argues that Bitcoin addresses are merely data strings, neither natural persons nor legal entities, and cannot be sued, and that public addresses on the blockchain do not qualify as 'found lost property.' On-chain data shows that 'John Doe 33' likely controls a wallet holding 5,000 BTC untouched since 2014, worth over $300 million.