Abandoned Bitcoin? Wallet Targeted by Noah Doe Lawsuit Moves $33 Million

In brief

• An address first funded in September 2013 moved 411.45 BTC, worth about $33.4 million, to a new wallet on Sunday, its first outgoing transfer ever.
• The coins cost about $54,000 when Bitcoin traded near $130, and the transfer went to an unlabeled address, not an exchange.
• Galaxy tagged the address as one of 39,069 named in a New York lawsuit by “Noah Doe” seeking ownership of dormant wallets as abandoned property.

Another long-sleeping Bitcoin whale has stirred, and this one is named in a lawsuit claiming its coins were abandoned.

An address beginning with "13Coop" that had never sent a single coin since it was first funded on Sept. 11, 2013, moved 411.45 BTC, worth roughly $33.4 million, on Sunday, according to Galaxy Research. Arkham data shows the coins landed in a single new address, where they remain.

When the wallet was funded, Bitcoin traded around $130, according to Arkham, meaning the stash cost about $54,000. Galaxy put the holder’s average cost basis near $127 and the paper gain at more than 64,000%. It’s unclear whether the owner plans to sell, since the transfer went to an unlabeled address, not an exchange.

Galaxy tagged the sending address as “Noah Doe #970,” marking it as one of 39,069 dormant addresses named in a New York lawsuit filed this year by a pseudonymous plaintiff called Noah Doe and two Wyoming companies.