U.S. court dismisses claims of 9 fraud victims for 127,271 BTC
2026-10-01 15:59:29
According to CoinMeta, as reported by Cryptoslate, Judge Rachel Kovner of the Eastern District Federal Court in New York, USA, dismissed the claims of 9 victims suspected of fraud regarding approximately 127,271 seized BTC. Two applications submitted in a timely manner were revoked, while the applications of the other seven individuals, which were submitted after the deadline, were rejected. The court held that these applicants failed to reasonably prove a direct link between their lost funds and the specific BTC wallets that were seized, and therefore did not have the legal standing to challenge the asset forfeiture. The US Department of Justice previously stated that this batch of BTC was related to fraud and money laundering cases involving Cambodia's Prince Holding Group and its chairman Chen Zhi. The court noted that the aforementioned victims could at most be considered ordinary unsecured creditors, and if the government ultimately succeeds in seizing the assets, they may still be able to apply for compensation through the victim compensation program established by DOJ, although there is no guarantee as to whether or not they will receive compensation or the amount they will receive. This ruling does not ultimately confirm the asset forfeiture.
Source:CryptoSlate
This content is for market information only and does not constitute investment advice.
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