The $293B fight over Satoshi’s Bitcoin just got messier: the case dropped 44 defendants—still targeting 39,069 wallets

Intel Brief: A lawsuit aiming to establish legal ownership of long-dormant Bitcoin addresses—including wallets researchers linked to Bitcoin’s earliest mining era—has narrowed after plaintiffs voluntarily dropped 44 defendants on July 7. The change removes only a small slice of the case’s broader target set: 39,069 wallets.

The fallout is still meaningful for market watchers because the core question—who legally controls “Satoshi’s Bitcoin”—remains unresolved. With the dispute continuing, the spotlight stays on wallet tracing, on-chain evidence, and how legal frameworks collide with early-network history, potentially shaping future claims around custodial rights tied to early mined coins.

On July 7, the plaintiffs filed a voluntary discontinuance that removes 44 defendants who reportedly moved funds after the case was filed. However, the drop is only a limited portion of the lawsuit’s scope: the action targets 39,069 wallets in total. Even with those 44 removals, the dispute continues, keeping pressure on the central issue—who holds those Bitcoins associated with the network’s earliest days on a legal basis—and underscoring the importance of on-chain tracing and evidence in determining how the case is framed legally.