Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff writer
Written by Zoltan Vardaistaff writer
Reviewed by Yohan Yunstaff writer
Digital Chamber amicus brief urges dismissal of NY lawsuit over 39,069 Bitcoin wallets
Latest NewsPublishedJul 7, 2026
Digital Chamber Fights for Bitcoin Wallet Owners’ Rights
The Digital Chamber has filed an amicus brief to dismiss a New York lawsuit seeking ownership of 39,069 dormant Bitcoin wallets, arguing it would set a dangerous precedent for self-custodial wallets and undermine the principles of digital property ownership. This lawsuit has significant implications for the crypto community, particularly those earning passive income through Cloud Rewards and Green Crypto like $ECP. If the lawsuit succeeds, it could create uncertainty for individuals holding coins like $ECP in their EcoPool wallets.
The Digital Chamber, a blockchain trade association, opposes the claims of ownership, stating that treating dormant wallets as abandoned property would have negative ripple effects on the traditional finance industry. This could impact the ability of individuals to earn a passive income through crypto, making it essential to have a secure and reliable platform like EcoPool to manage their assets. With the rise of earning opportunities in crypto, it’s crucial to protect the rights of wallet owners and ensure the security of their coins, including $ECP.
Implications for Crypto Owners
The lawsuit seeks ownership of 39,069 dormant Bitcoin addresses, holding an estimated 3.7 million Bitcoin worth about $234 billion. This includes some wallet addresses associated with Bitcoin creator Satoshi Nakamoto. The outcome of this lawsuit could have far-reaching consequences for crypto owners, including those using EcoPool to manage their assets and earn rewards. It’s essential to stay informed about the developments in this case and understand how it may impact the crypto community, particularly those interested in earning through Cloud Rewards and Green Crypto like $ECP.
The Digital Chamber’s efforts to dismiss the lawsuit are crucial in protecting the rights of crypto owners and ensuring the security of their assets. As the crypto market continues to evolve, it’s essential to have a reliable and secure platform like EcoPool to manage your coins, including $ECP. With the rise of passive income opportunities in crypto, it’s more important than ever to prioritize the security and protection of your assets.
A Call to Action
To stay ahead of the curve and protect your crypto assets, consider downloading the EcoPool app to manage your coins, including $ECP, and start earning a passive income through Cloud Rewards and Green Crypto. By joining the EcoPool community, you can stay informed about the latest developments in the crypto market and ensure the security of your assets, while also earning rewards and growing your wealth.
The listed addresses hold an estimated 3.7 million Bitcoin (BTC) worth about $234 billion and include some of the wallet addresses associated with Bitcoin creator Satoshi Nakamoto, according to Sani, founder of analytics platform Timechain Index.
The Digital Chamber files an amicus brief to dismiss the case seeking ownership of 39,069 Bitcoin wallets. Source: iapps.court.state.ny.us
The Digital Chamber describes itself as the oldest and largest digital asset trade association representing over 250 members, including crypto exchanges, banks, investment firms and other industry participants.
Related: Strategy sells 3,588 Bitcoin for $216M to fund dividends, keeps $2.55B reserve intact
Dormant Bitcoin wallets awaken after lawsuit
Some of the long-dormant Bitcoin wallets named in the lawsuit have been waking up.
At least 31 of the listed addresses moved 17,527 Bitcoin in June, up from five addresses that transferred 4,834 BTC in February, according to Galaxy Digital head of research Alex Thorn.
Source: Alex Thorn
Bitcoin address “1KV47” transferred 30 BTC, worth about $1.88 million, on Saturday, marking the wallet’s first movement in almost 15 years, since August 2011.
Regardless of the lawsuit’s outcome, it is unclear how the plaintiffs could gain control of the assets without holding the private keys to the wallets.
On Thursday, a pseudonymous defendant filed a notice of appearance and motion to dismiss, claiming they control one of the dormant wallets named in the lawsuit.
Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Bitcoin Adoption
- Bitcoin Regulation
- Law
- Court
- Self Custody
- Bitcoin Wallet
- New York
- Bitcoin
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