Odaily Planet Daily News A court order related to a fraud claim in Hong Kong was "successfully executed" after being sent to two cryptocurrency wallets using tokenization technology. Experts say this novel approach will set a precedent for other jurisdictions and enhance Hong Kong's attractiveness as a technology center. After a Hong Kong company fell victim to a misrepresentation scam and lost more than $2.6 million, the injunction was served to the unknown holders of two wallet addresses on the Tron blockchain, prohibiting them from disposing of assets "globally and in Hong Kong."
The plaintiff in the civil lawsuit is a marketing consulting company Worldwide A-Plus, which transferred $2.66 million worth of Tether (a stablecoin pegged to the US dollar) to two wallets controlled by scammers who claimed to be salespeople for an online marketing platform that was hacked.
The order, which lists the unknown holders of the two wallets as defendants in the case, was approved by High Court Associate Judge Douglas Lam on December 5 and was subsequently served by the law firm Ravenscroft & Schmierer in the form of a "tokenization legal notice."