29 Oct 2024
CHAN WING YAN AND ANOTHER v. JP-EX CRYPTO ASSET PLATFORM PTY LTD AND OTHERS
- Citation
- [2024] HKDC 1628
- Court
- District Court
- Case number
- DCCJ2977/2024
USDT is property capable of trust; on the pleaded facts the three certainties are satisfied because the Platform segregated balances, retained private keys and made representations amounting to an objective intention to hold users' crypto-assets for their benefit; therefore D2 held the specified USDT deposits on express trust for P1, breached trustee duties by transferring the deposits away, and plaintiffs are entitled to declaratory and injunctive proprietary relief and summary costs on default judgment.