The High Court of England and Wales approved the service of documents related to bringing the substance of the claim to the defendant’s attention through the NFT. This was reported by the law firm Giambrone & Partners.
Giambrone & Partners represents the interests of the founder of the gambling company Microgame, Fabrizio D’Aloy. The latter filed a lawsuit against five cryptocurrency exchanges (Binance, Poloniex, Gate.io, OKX and Butkub) and a group of unknown persons who appropriated his digital assets.
“The allegation relates to misappropriation of Mr. D’Aloy’s cryptocurrency by unknown individuals operating a fraudulent clone of an online broker that encourages investors to deposit assets into two wallets so that they can be “traded” with them,” the company said in a statement.
The court ruled that the delivery of the lawsuit could be accomplished by transferring the corresponding NFTs to the cryptocurrency wallets that D’Aloy lost control of. According to lawyers, this allows proceedings to be initiated even when the identity of the alleged defendant has not been established.
“This decision opens up the possibility for other victims of the scam to prosecute the unknown individuals who embezzled their cryptocurrency in situations where they would not otherwise be able to do so. For example, when the contact details of the fraudulent platform are no longer relevant,” Giambrone & Partners said.
The company also secured a ruling that makes bitcoin exchanges responsible for locking up misappropriated customer assets within their systems.