The keepers of the keys: remedies and legal obligations following misappropriations of cryptocurrency

The keepers of the keys: remedies and legal obligations following misappropriations of cryptocurrency

This article addresses two important legal issues arising from the recent misappropriation of Bitcoin following the hack of the Bitfinex exchange. First, how is legal ownership of Bitcoin determined when the keys to access Bitcoin wallets are spread across a number of parties, and what is the impact of Bitcoin trading? Second, what remedies exist for the misappropriation of Bitcoin in such segregated wallets? It is only if these two questions can be answered with certainty that users of Bitcoin markets can be assured of the security of their cryptocurrency.

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JIBFL will be sharing two articles per month on-line only. They will be available on the Loan Ranger blog one month after publication in LexisLibrary.   

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About the author:

Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.