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ARTICLE · 01 FEBRUARY 2024

Digital Asset Fraud: No Final Orders To Be Made Against Unidentifiable 'Persons Unknown'

Cooley LLP
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In its recent decision in Boonyaem v. Persons Unknown Category A, Persons Unknown Category B and INGFX Limited, the High Court of England and Wales addressed some of the key issues...

United StatesTechnology
Alex Radcliffe
Alex Radcliffe
Victoria Barlow
Victoria Barlow
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In its recent decision in Boonyaem v. Persons Unknown Category A, Persons Unknown Category B and INGFX Limited, 1 the High Court of England and Wales addressed some of the key issues that have frequently arisen in cases of digital asset fraud. Notably, while the judge granted summary judgment against 'persons unknown' who were currently anonymous but identifiable, he refused to enter judgment against 'persons unknown' who were both anonymous and unidentifiable.

Background

Tippawan Boonyaem claimed she had been fraudulently induced to invest her fiat currency in Tether tokens (USDT) and then to transfer 425,836.62 USDT to various wallets under the control of the defendants.

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