Andrew Jones, Senior Associate at Beale & Co, looks
at two recent High Court cases which highlight the benefits - and
limits - of parties and their insurers using proprietary
injunctions to aid recovery of Bitcoin and other cryptocurrency
following cyber attacks and fraud.
Both cyber attacks and cyber fraud are on the rise. Given the
degree of anonymity it provides, cryptocurrency such as Bitcoin is
often involved.
Two recent cases show the extent to which the English Courts are
willing to grant proprietary injunctions to freeze cryptocurrency
accounts to allow time for the victims to pursue litigation against
the alleged perpetrators.
Proprietary injunctions and remedies
Proprietary injunctions and related remedies are useful legal
tools for the preservation of specific property where the claimant
asserts that they are the rightful owners of that property held by
someone else. If granted, the Court effectively freezes the
respondent's rights to deal with the
