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Ping Fai Yuen accuses his ex-wife of stealing his Bitcoin wallet password. Photo: The Times . |
The UK Supreme Court is considering a case involving £180 million ( $241 million ) worth of Bitcoin linked to businessman Ping Fai Yuen, who alleges his ex-wife stole it by secretly filming his cryptocurrency wallet password.
According to court documents, in August 2023, Fun Yung Li allegedly installed a hidden surveillance camera in her home and recorded Yuen as he sat writing down passwords in a private space. At the time, the two were in the process of finalizing their divorce.
The Bitcoin is stored in a Trezor cold wallet, which is not connected to the internet and is protected by a 6-digit PIN. However, anyone with the "seed phrase," a random 24-word string, can recreate the wallet on another device and access all the assets inside.
Mr. Yuen said his daughter warned him that Ms. Yung Li was trying to steal money. He then installed a recording device and obtained a recording of his ex-wife "discussing the surveillance cameras that had been installed in the house." In another recording, Ms. Yung Li said, "Bitcoin has been transferred to me, but can you see that you received it?" and discussed spending the BTC in Hong Kong (China), where she lives.
Mr. Yuen alleges that his ex-wife transferred all of her Bitcoin to 71 different wallet addresses. The value of the assets fluctuated between £160 million and £180 million throughout the course of the lawsuit.
After discovering the money was missing, Mr. Yuen confronted and assaulted her. In September 2024, he was convicted of assault causing serious injury and two counts of common assault.
Previously, Mr. Yuen had also reported the theft to the police. Police arrested Ms. Yung Li in December 2023, seizing several watches, 10 cold wallets, and 5 recovery phrases. She was released on bail, and police stated that no further action would be taken until new evidence was available.
In court, Ms. Yung Li testified that she "did not have the necessary information to answer the questions." Judge Cotter stated that Mr. Yuen had a "very high probability of winning the case" and called the recording of her testimony "incriminating evidence."
"Ms. Li had many opportunities to present her views, but they were all rejected," the judge said.
Mr. Yuen is currently suing both Ms. Yung Li and her sister, demanding the return of the Bitcoin or its equivalent value, and seeking an injunction against their cryptocurrency assets.
Source: https://znews.vn/mat-240-trieu-usd-bitcoin-vi-vo-lap-camera-quay-len-post1636497.html
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