The Singapore International Commercial Court ordered the freezing of approximately $58.5 million of encrypted assets

THE SINGAPORE INTERNATIONAL COMMERCIAL COURT ORDERED THE FREEZING OF APPROXIMATELY $75 MILLION (APPROXIMATELY $58.5 MILLION) OF ENCRYPTED ASSETS, INCLUDING 780 BITCOIN AND 8167.73 MILLION USDCS, AS A RESULT OF TRANSFER DISPUTES. THE CASE INVOLVED THE OPERATOR OF A LARGE ENCRYPTED MONEY-TRADING PLATFORM WITH A LONG-TERM CLIENT WHO CLAIMED THAT THE PLATFORM HAD MISDIRECTED 2,500 BITCOIN AND 2,500 BITCOIN CASH TO THE DEFENDANT ' S WALLET DUE TO A TECHNICAL ERROR IN THE INTERNAL BOOKS, THAT THE DEFENDANT HAD SUBSEQUENTLY CONVERTED AND TRANSFERRED PART OF THE ASSETS TO A NON-PLATFORM CUSTODIAN ' S WALLET AND THAT THE COURT HAD REQUESTED THE DEFENDANT TO DISCLOSE THE WHEREABOUTS OF THE ASSETS。