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U.K. High Court Lets $172 Million Bitcoin Theft Lawsuit Proceed to Trial

U.K. High Court Lets $172 Million Bitcoin Theft Lawsuit Proceed to Trial

A U.K. court is reviewing claims that 2,323 Bitcoin were taken from a Trezor wallet after a seed phrase was allegedly recorded, with the funds traced across 71 addresses and preservation relief sought in November 2025.

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Fact Check
The claim accurately reflects a widely reported legal development in the U.K. High Court. Multiple reputable crypto news outlets (CoinDesk, Decrypt) confirmed the specific details: the quantity of 2,323 Bitcoin, the $172 million valuation, the use of CCTV to steal a Trezor seed phrase, the distribution across 71 addresses, and the judge's ruling to allow the trial to proceed.
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Summary

A U.K. High Court case over the alleged theft of 2,323 Bitcoin, valued at about $172 million, remains active as the court reviews claims that the assets were taken after a Trezor wallet seed phrase was allegedly recorded. The Bitcoin was moved on Aug. 2, 2023 across 71 addresses. The claimant later sought an asset preservation injunction in November 2025 to help protect the disputed holdings while the case proceeds. The lawsuit continues to stand out as a significant cryptocurrency property dispute in England and Wales.

Terms & Concepts
  • Seed phrase: A series of words that can restore access to a crypto wallet and authorize control over the assets stored in it.
  • Trezor wallet: A hardware wallet used to store cryptocurrencies offline, helping protect private keys from online threats.
  • Blockchain addresses: Unique wallet identifiers on a blockchain used to send, receive, and track cryptocurrency transactions.