Nancy Carol Smithers & Anor v Persons Unknown Category 1 & Ors

Nancy Carol Smithers & Anor v Persons Unknown Category 1 & Ors

The non-disclosure regarding the LIFO tracing methodology was innocent and did not cause prejudice; the court retains discretion and it would be disproportionate to discharge the injunction. The order should be continued as there is jurisdiction and no compelling reason to set it aside.

Parties
Claimant: Nancy Carol Smithers; Claimant: Angelina Kostyantynivna Usanova; Primary Defendant/respondent: Persons Unknown Category 1; Primary Defendant/respondent: Persons Unknown Category 2; Primary Defendant/respondent: Persons Unknown Category 3; Primary Defendant/respondent: Phoenixfin PTE Ltd; Primary Defendant/respondent: Bybit Technology Limited; Primary Defendant/respondent: Bybit Fintech FZE; Primary Defendant/respondent: Kyrrex Limited; Primary Defendant/respondent: Kyrrex UK Ltd; Primary Defendant/respondent: Nest Services Limited; Primary Defendant/respondent: HTX (formerly Huobi Global SA)
Jurisdiction
England and Wales
Judgment Date
02 April 2026
Procedural Posture
Commercial Court Freezing Injunction / Return Date Hearing on Continuation of Injunction
Outcome
Freezing injunction continued
Legal Topics
Freezing Injunctions, Non Disclosure, Tracing Cryptocurrency, Jurisdiction, Cross Undertaking in Damages
Civil Procedure Commercial Law Cryptocurrency Law Freezing Injunctions Non Disclosure Tracing Cryptocurrency Jurisdiction Cross Undertaking in Damages

Case Brief

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Parties

Nancy Carol Smithers

Claimant

Angelina Kostyantynivna Usanova

Claimant

Persons Unknown Category 1

Primary Defendant/respondent

Persons Unknown Category 2

Primary Defendant/respondent

Persons Unknown Category 3

Primary Defendant/respondent

Phoenixfin PTE Ltd

Primary Defendant/respondent

Bybit Technology Limited

Primary Defendant/respondent

Bybit Fintech FZE

Primary Defendant/respondent

Kyrrex Limited

Primary Defendant/respondent

Kyrrex UK Ltd

Primary Defendant/respondent

Nest Services Limited

Primary Defendant/respondent

HTX (formerly Huobi Global SA)

Primary Defendant/respondent

Procedural Posture

Commercial Court Freezing Injunction / Return Date Hearing on Continuation of Injunction

Legal Issues

  1. 1 Whether non-disclosure regarding tracing methodology justifies discharge of injunction
  2. 2 Whether the freezing injunction should be continued against the defendants
  3. 3 Whether the claimants' legal team failed in their duty of fair presentation

Ratio Decidendi

The non-disclosure regarding the LIFO tracing methodology was innocent and did not cause prejudice; the court retains discretion and it would be disproportionate to discharge the injunction. The order should be continued as there is jurisdiction and no compelling reason to set it aside.

Court Disposition

Freezing injunction continued

Orders

  • Existing freezing injunction continued against the defendants
  • Claimants permitted to disclose identities of cryptoasset holders to relevant law enforcement agencies