Key Takeaways:
Timechainindex.com founder Sani first flagged Noah Doe’s NY lawsuit targeting 39,069 wallets worth $293B in BTC.Galaxy Research’s Alex Thorn finds the $10-per-address valuation off by 9 orders of magnitude, weakening the legal claim.A New York default judgment could surface by late June 2026, though courts are unlikely to rubber-stamp the full request.The legal theory hinges on a single number supplied by an unnamed expert: each address is valued at under $10. That figure triggers Section 257(2) of the statute, a shortcut track for low-value lost property that vests title in the finder just one year after the find, without requiring a prolonged police holding period.
A technical default is expected by late June 2026, approximately 30 days after service. Thorn estimates the probability the court grants the full title-vesting declaration on default as low to moderate, noting the theory is novel, the stakes are high, and the questionable affidavit of service gives the court clear reason to demand a hearing before acting.
