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ARTICLE · 09 MAY 2022

Cryptocurrency Litigation: Traditional Remedies In Modern Circumstances

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Previously under seal and only recently released to the public, the Ontario Superior Court's decision in Cicada 137 LLC v Medjedovic, 2021 ONSC 8581 [Cicada] shows a necessarily functional approach for those seeking to identify, trace and freeze digital assets.

CanadaTechnology
Maureen Ward
Maureen Ward
Nathan Shaheen
Nathan Shaheen
Shaan Tolani
Shaan Tolani
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Ontario Superior Court Issues an Anton Piller Order in Connection with Alleged Cryptocurrency Theft

Previously under seal and only recently released to the public, the Ontario Superior Court's decision in Cicada 137 LLC v Medjedovic, 2021 ONSC 8581 [Cicada] shows a necessarily functional approach for those seeking to identify, trace and freeze digital assets.

In the decision, Justice Myers granted an Anton Piller Order-a court remedy that allows the plaintiff, through a court-approved independent supervising lawyer, to enter a defendant's property in order to seize relevant devices and records-in connection with the alleged theft of $15 million in cryptocurrency tokens. In doing so, the court further demonstrated that remedies ordinarily available to potential targets of economic crime remain available in novel cases involving digital assets. 

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