Introduction
The crypto market has been through a tumultuous past year.
Within months, the market went from all-time highs to the coldest
crypto winter as Three Arrows Capital cratered, spreading a
contagion that consumed the likes of Celsius, Voyage, TerraLuna and
FTX amongst others. Meanwhile, the industry continues to be ravaged
by crypto crime, with Chainalysis reporting crypto scam
'revenue' at US$5.9 billion in 2022 led by
'investment'-type scams.1 These developments
have led to an uptick in crypto litigation.
In this Update, we explore the notable crypto litigation
developments in the past year, taking a closer look at significant
cases from Singapore, the UK, and the US. We examine how the courts
are dealing with key issues in crypto disputes, including issues of
jurisdiction, service of court documents, and the duties of
blockchain developers and crypto exchanges.
