Rajah & Tann Singapore successfully acted for plaintiff in obtaining the first ever proprietary and mareva injunction against “persons unknown” for stolen cryptocurrency in Singapore in CLM v CLN [2022] SGHC 46.
This is the leading authority on two novel questions of law:- (1) can stolen cryptocurrency be subject to a proprietary injunction; and (2) does the court have jurisdiction to grant interim orders against persons unknown.
The matter required complex forensic tracing of stolen cryptocurrency through layering and peeling techniques from wallets to crypto exchanges. The disclosure orders obtained against the crypto exchanges allowed for identification of wrongdoers and further tracing.
To establish jurisdiction over the crypto exchanges to Singapore, we had to investigate and establish connection to Singapore through public statements issued by these exchanges on their business and operations, including advertisements to show recruitment of employees for their Singapore operations.
The matter is led by Partner Jansen Chow.
Read more about the matter here.
