A Bitcoin wallet dormant since November 2011 moved its entire 40 BTC balance on September 3, 2026, cashing in a gain of more than 2,571,899% and turning an original $120 stake into roughly $3.09 million. The transfer is one of four ancient wallets Galaxy Research tracked waking up in a single week, several tagged to a New York lawsuit that wants dormant Bitcoin declared abandoned property.
Someone bought 40 BTC for about $120 in November 2011, then did nothing with it for close to 15 years. On September 3, 2026, the wallet moved its full balance in a transaction recorded at block 965330, worth about $3.09 million at an average original cost near $3 a coin.
Four wallets, one week, $15.73 million
The 40 BTC move was not isolated. Galaxy Research tracked four long-dormant wallets moving a combined 202.84 BTC, worth roughly $15.73 million, between Aug. 29 and Sept. 4. The largest held 146.06 BTC, about $11.31 million, untouched since November 2013 and up roughly 12,902% from a cost basis near $595.
Two smaller wallets rounded out the batch: 10 BTC dormant since June 2011, worth about $777,000, and 6.78 BTC last active in February 2011, valued near $551,000. Galaxy tagged that 6.78 BTC transfer with a Coinbase recipient attribution, typically a signal of intent to sell. The 40 BTC wallet, by contrast, sent its coins to an address not linked to any exchange or known custodian, suggesting the owner moved to another personal wallet rather than cashing out.
A lawsuit over "abandoned" Bitcoin
The 40 BTC address has been identified as "Noah Doe #38097," tied to a class-action lawsuit filed in New York targeting 39,069 dormant Bitcoin addresses in an attempt to reclaim roughly 3.7 to 3.8 million BTC, worth up to $293 billion at current prices. The suit's theory holds that wallets untouched for over a decade have effectively been abandoned. But a September 3 transfer from a wallet whose owner still controls its private keys undercuts that argument in court.
Several of the wallets Galaxy tracked this week also carried Noah Doe sender tags. Named wallets tied to the case have been stirring regularly since a judge paused the proceedings in June.
Part of a summer-long pattern
The activity extends a trend that has sped up through the summer. An earlier wave saw six wallets move roughly $40 million in a single 10-day stretch in August.
On August 6, 2026, another wallet transferred 49.97 BTC worth approximately $3.2 million. Each reactivation shrinks the pool of addresses the lawsuit can plausibly call abandoned.
Bitcoin's circulating supply stands at roughly 19.7 million coins, so unlocking the disputed 3.7 to 3.8 million BTC would raise liquid supply by nearly 20%. A single wallet just turned $120 into $3.09 million by doing nothing for 15 years.
Sources: Decrypt, Crypto Briefing
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