U.K. High Court Allows Bitcoin Theft Lawsuit to Proceed

A U.K. High Court judge has permitted a civil lawsuit concerning the alleged theft of 2,323 bitcoin, currently valued at approximately $172 million, to advance to a full trial. According to NS3.AI, Ping Fai Yuen claims that Fun Yung Li utilized CCTV cameras to capture the 24-word recovery phrase for his Trezor hardware wallet. The judge noted that while the tort of conversion does not presently apply to cryptoassets under English law, other legal grounds may still allow the case to proceed.