Hong Kong Court Approves Tokenized Notifications for Tron Wallets
Date: 2025-01-20 Author: Henry Casey Categories: BUSINESS
Legal documents are usually delivered in person. In some cases, sending by mail, email, or fax is allowed. However, the demand to freeze 2.65 million USDT was the first time a tokenized notification has been used.
The owners of two crypto wallets on the Tron blockchain were warned that any outgoing transactions after receiving the notice would be considered a criminal offense. In addition, exchanges were ordered to block any financial transactions with these wallets.
However, by the time these notices were received, the wallet owners suspected of fraud and theft of 2.65 million USDT had already transferred some of the funds to the exchanges.
Previously, the Hong Kong Monetary Authority (HKMA) restricted overseas crypto companies that do not have a banking license, prohibiting them from using the word “bank” or its derivatives in advertising.
