The UK High Court has permitted a lawsuit involving the theft of 2,323 bitcoins, valued at approximately $172 million, to continue. Plaintiff Ping Fai Yuen accuses his estranged wife, Fun Yung Li, of using home CCTV cameras to spy on his hardware wallet's mnemonic phrase, subsequently transferring the bitcoins from a Trezor cold wallet without authorization in August 2023. Although the judge noted that the plaintiff's claim of "conversion" typically applies to tangible property under UK law, the case will proceed based on other legal grounds. The bitcoins are currently distributed across 71 blockchain addresses and have not moved since December 2023.
UK High Court Allows Bitcoin Theft Case Involving $172 Million to Proceed
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