Singapore court freezes S$75M in crypto
- Singapore’s commercial court froze about S$75 million in Bitcoin and USDC linked to a transfer dispute.
- The case involves 780 BTC and 816,773 USDC moved from a major crypto platform.
- The court also ordered the customer to disclose where the disputed assets are held.
The Singapore International Commercial Court froze about S$75 million in Bitcoin (CRYPTO:BTC) and USD Coin (CRYPTO:USDC) over a transfer dispute.
The crypto platform said an internal ledger error caused it to transfer 2,500 BTC and 2,500 Bitcoin Cash (CRYPTO:BCH) in July 2024.
The customer later moved 780 BTC and converted another 20 BTC into about 816,773 USDC.
The court froze the 780 BTC and 816,773 USDC, along with assets and profits linked to them.
The customer disputes the platform’s claims and says he believed the transferred crypto belonged to him.
The platform recovered the remaining 1,700 BTC and 2,500 BCH after discovering the alleged error in January 2025.
The court found a serious ownership dispute and ordered the customer to disclose where the frozen assets are held.
At the time of reporting, Bitcoin price was $68,964.24.
