CRYPTOCURRENCY EXCHANGES RECOGNISED AS CONSTRUCTIVE TRUSTEES OF MISAPPROPRIATED ASSETS

On 28 July, an article from Field Fisher says that the High Court in London has further demonstrated its desire to support victims of cryptocurrency fraud by granting injunctions over misappropriated cryptoassets in a recent case.  It says that the reaction to this judgment has predominantly focussed on the first use of an NFT as a means of serving a court order on persons unknown.  However, the article contends, victims of cryptocurrency fraud should pay more interest to the High Court’s determination of there being a good arguable case that the cryptocurrency exchanges hold these proceeds of fraud as a constructive trustee on behalf of the victim.

https://www.fieldfisher.com/en/services/fraud-financial-crime-and-investigations/fraud-corporate-crime-blog/cryptocurrency-exchanges-recognised-as-constructiv

Any modest contributions for my time and ongoing expenses are welcomed!  At Buy me a Coffee one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017