NFTs Innovatively Utilized to Track Stolen Crypto Funds in Landmark Singapore Court Ruling
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A British firm tracked down stolen crypto funds and convinced Singapore court to attach freeze order NFTs to hacker wallets.
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Court freeze order was tokenized into NFTs and attached to wallets involved in a hack.
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NFTs serve as a warning about the wallets' involvement in the hack, but don't prevent transactions.
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Firm claims it can track funds leaving the wallets thanks to the attached NFTs.
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NFT service method was accepted by Singapore court in a first for worldwide injunctions.