Malaysia Case Law: Decisions & Judgments | LexChat

Malaysia Case Law

Possession and control of digital assets
  • 26 Jul 2022

    ONG SEOW LEE LEE EE FONG

    Citation
    PA-A72NCC-165-06/2021 (Mahkamah Majistret)
    Court
    Magistrates' Court
    Case number
    PA-A72NCC-165-06/2021 (Mahkamah Majistret)

    On the balance of probabilities the court found RM70,000 was advanced and agreed to be a friendly loan and the defendant failed to prove repayment by transfer of 50 Litecoin because plaintiff never received convertible value or cash, defendant controlled the wallet and did not sell the coins when requested; therefore plaintiff's claim succeeds and defendant's counterclaim fails, with costs awarded to plaintiff.