As NFTs become commonplace, they may become more common in court decisions.
It is becoming increasingly common that NFTs, what they are and who they belong to are the subject of debate, but they are becoming the norm in the courtroom. According to lawyers specializing in cryptocurrencies, NFTs are more enthusiastic in pursuing the broader criminal activities taking place online.
In 2022, there was a surge in the number of lawsuits filed against people for various blockchain offenses, especially in cases where they could not be contacted through conventional means. Of course, part of this growth is the rise of NFTs for legitimate activities.
While this is becoming a trend in the UK, NFT rights have become popular in China and the United States. In the latter case, the law firm Crypto Lawyers filed a successful request to serve its client through NFT in the District Court for the Southern District of Florida.
The puzzling aspect of this is that the defendant is unknown, but given the allegation of stealing nearly $1 million, NFT representation may be one of the few legal avenues to seek compensation.
According to the judge who granted the law firm’s request to serve the defendant as an NFT, they considered it a calculated way to offer legal documents in the case.
One of the exciting aspects of this case is the fact that it makes a crypto wallet similar in structure to servicing an individual by court order. Sending NFTs to a wallet address, namely the one containing the stolen assets, will serve as a court order for the owner. In particular, it is a very useful method when conventional means of communication are not possible.
This case in Florida is also not the first. In the UK, in December the High Court of England also allowed the plaintiff to present his judgment as an NFT. The court order was a means of recovering the bitcoins he claimed had been stolen from him.
In particular, the plaintiff was one of many victims of fraud through the fraudulent site Extick Pro. The victims were tricked into creating an account and sending cryptocurrency to their platform. According to the plaintiff, more than $1.5 million worth of BTC was sent to the scammers.
News Press Ohio – Latest News:
Columbus Local News || Cleveland Local News || Ohio State News || National News || Money and Economy News || Entertainment News || Tech News || Environment News