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 English High Court in Tulip Trading Limited v Bitcoin Association for BSV and others [2022] EWHC 668 (Ch) dealt with interesting cryptocurrency legal issues. This was against a backdrop of a hack resulting in a loss of control of US$4.5 billion in bitcoins.
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
On Tuesday 12 April 2022, from 2.30pm to 4pm, I will be speaking on a panel discussion organised by the Law Society of Singapore. We will cover the Practicalities of Enforcement of Crypto-assets.
This is open to non-members of the Law Society of Singapore as well. The registration page is here and with the publicity brochure.
Continue reading
In the English High Court case of Mr Dollar Bill Limited v Persons Unknown and two others [2021] EWHC 2718 (Ch), the Court granted a proprietary injunction against approximately 3.7 bitcoins (approximately GBP 105,000) and certain discovery orders against the two cryptocurrency exchanges, Binance and Huobi. Continue reading
The Initial Litigation Offering or ILO – with something as simple as a website page or an app, anyone could potentially invest money to fund the costs of litigation. The investor is issued an ILO token, secure on the blockchain, as a share of the potential returns from the litigation. The ILO tokens themselves can be traded and sold on.
