Are cryptocurrency assets considered to be property in the eyes of the law? Where does one even begin to seek legal remedy for stolen cryptocurrency in the borderless nature and anonymity of the internet?
The Singapore High Court granted the first reported freezing injunction against “persons unknown” for S$9.6 million worth of cryptocurrency assets stolen from the Plaintiff. The Plaintiff was successfully represented by Partners Danny Ong and Jansen Chow of Rajah & Tann Singapore.
This decision marks a significant development, demonstrating that the Singapore courts are willing and able to provide remedies as against fraudsters in the cryptocurrency space. In the appropriate case, the traditional legal rules can be adapted to suit the needs of cutting-edge modern technology.
Read more about the matter: https://eoasis.rajahtann.com/eoasis/lu/pdf/2022-03_First_Persons_Unknown_Order.pdf