A dormant Bitcoin wallet, identified as '13Coop', transferred 411.45 BTC valued at approximately $33.4 million on Sunday. The address had remained inactive since its initial funding on September 11, 2013, when the cost basis for the stash was roughly $54,000.
The wallet is one of 39,069 addresses named in a New York lawsuit filed by a plaintiff known as Noah Doe and two Wyoming companies. The lawsuit claims these wallets, holding a total of about 3.8 million BTC, should be classified as abandoned property under state law.
The coins were moved to a new, unlabeled address rather than an exchange, leaving the owner's intentions unclear. Galaxy Research noted that the address was previously targeted by a 2025 campaign that sent small amounts of Bitcoin with embedded messages to dormant wallets to support the abandonment claim.
The movement of these funds challenges the premise of the lawsuit, as spending Bitcoin requires access to private keys. Alex Thorn, head of research at Galaxy, stated that the frequency of dormant 'Noah Doe' wallets moving assets on-chain has been increasing month over month.
This transaction follows a broader trend of long-inactive Bitcoin wallets becoming active in 2026. Recent activity includes a Satoshi-era wallet from 2010 moving funds after 16 years, as well as other significant transfers totaling $161 million and $377 million in recent weeks.
