BVI Court Freezes Crypto Wallets

In February this year, Chainswap Limited (Chainswap) a BVI incorporated company that provides for "cross-chain bridging" (the process of synthetically transferring cryptocurrency tokens between different blockchains) was hacked on at least one occasion. In the process, the hackers managed to steal a number of tokens from cryptocurrency "wallets".

In an attempt to recoup the stolen assets and to repair its reputation, Chainswap sought urgent ex parte relief in the Commercial Court:

1. an injunction against alleged perpetrators accused of stealing digital assets
2. permission to serve its claim on persons unknown out of the jurisdiction and by alternative means, and
3. a letter of request to the Croatian Court, where a known cryptocurrency exchange (Electrocoin d.o.o.) is located to obtain their assistance in identifying the alleged wrongdoers.