Svmuu News The UK High Court ruled last week that a lawsuit involving the theft of 2,323 bitcoins can proceed to trial. Plaintiff Ping Fai Yuen stated in court documents that his estranged wife, Fun Yung Li, secretly obtained the seed phrase for his Trezor hardware wallet in August 2023 by using a surveillance camera in their home, and transferred the 2,323 bitcoins without authorization. The stolen assets were worth nearly $60 million at the time of the theft, and are now valued at approximately $172 million based on the current price of around $74,000 per bitcoin.
Court documents show that the transferred bitcoins were dispersed through multiple transactions into 71 blockchain addresses not held on exchanges, with no further transfers occurring since December 21, 2023. Yuen claimed his daughter had warned him that Li was attempting to steal the bitcoins, after which he installed a recording device in their home. After discovering the transfers, Yuen physically assaulted Li and pleaded guilty in 2024 to actual bodily harm and two counts of common assault.
Li had previously applied to have the case dismissed, arguing that the plaintiff's core claim of "conversion" only applies to physical property, not digital assets like bitcoin. The judge agreed with this point but ruled that the case could proceed to trial based on other legal grounds.