[Finance]A case where a decision to freeze cryptocurrency exchange electronic wallets was overturned.

23 Feb 2024

Law firm lawyer Choi Ji-hyun successfully overturned a seizure order regarding the client's cryptocurrency exchange electronic wallet through a seizure objection, allowing the frozen account to resume normal transactions.


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1. Client's Situation


   Client A, renowned on social media platforms as 'Coin King,' possessed exceptional knowledge of virtual assets, which led to substantial profits. 


Consequently, individuals around A frequently sought investment advice, which A willingly shared without any economic compensation, emphasizing that investment losses were ultimately the individual's responsibility.


2. Choi Ji-hyun Lawyer's Active Legal Activities and Victory


<Legal Review>

 The seizure of virtual assets technically targets the "right to claim virtual assets" rather than the assets themselves. In this case, the claimant's rights were legally ambiguous. Allegations lacked concrete evidence, relying solely on verbal accusations without substantiating proof.


<Communication with Client>

 Choi Ji-hyun maintained constant communication with the client, striving to comprehend the case comprehensively.


<Victory>

Based on meticulous legal analysis and efficient communication, Choi Ji-hyun filed a motion to cancel the seizure, arguing that there was no legal basis for the seizure of A's virtual asset exchange wallet.


As a result, the court ruled in favor of the client, overturning the seizure and rejecting the opponent's application, thereby allowing A to resume normal transactions.


3. Dealing with Disputes Related to Cryptocurrencies

  

With cryptocurrencies becoming increasingly integrated into daily life, legal disputes surrounding them are growing in complexity. Legal responses to these disputes differ from traditional methods, necessitating advice from lawyers with firsthand experience in cryptocurrency-related litigation.


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