Singapore court freezes about S$75 million in Bitcoin and USDC

Singapore's International Commercial Court froze about S$75 million of 780 BTC and 816,773 USDC in an anonymized dispute after operators of a major digital-asset platform said a 2020 internal ledger error caused them to send a long-standing customer 2,500 BTC and 2,500 BCH from the exchange's own holdings in July 2024, years after the customer's legacy self-custody wallets had already been emptied. The court said there was a serious question to be tried and an arguable case that the customer, identified only as DVC, knew the transfer was mistaken, though it stressed the merits remain for trial. Blockchain records cited by the court show the 2020 BTC transfer went to the customer's own exchange, while the BCH was later split between a blockchain project he founded and Binance. The March 26, 2026 proprietary injunction, whose reasons were published on April 24, 2026, also requires disclosure within 14 days of where the assets and proceeds are held, but the court refused blanket permission to use that material to seek comparable foreign freezing orders.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.