A RM3.2 million crypto dispute has landed in the Malaysian High Court, centering on Tether (USDT) and allegations of misappropriation.
The plaintiff sought a Mareva injunction to freeze assets, but the Court ruled there was not enough evidence of risk of dissipation of assets.
I write on the case of Sim Kwang Kai Adrian v Johnathon Wong Futt Po (see grounds of judgment dated 28 April 2025). Continue reading
The Singapore High Court case in CLM v CLN and others [2022] SGHC 46 is the first reported Singapore decision on the grant of an injunction against persons unknown to freeze cryptocurrency.
The court granted the injunction over the stolen cryptocurrency of approximately 109 bitcoins (BTC) (approximately more than RM17 million in value based on current price of 1 BTC to ~RM160,000) and 1,497 ether (ETH) tokens (approximately more than RM16 million in value based on current 1 ETH to ~RM11,000). Continue reading
