LCX AG v. 1.274m U.S. Dollar Coin et. al.,

Gregory O. Tuttle of Tuttle Yick LLP successfully (on behalf of an anonymous client) secured the dismissal of a temporary restraint and all allegations seeking to restrain the client’s cryptocurrency exchange account on a major cryptocurrency platform.

LCX alleged that in January 2022, unknown hackers broke into its cryptocurrency exchange and stole about $8 million from a digital wallet. In July 2022, LCX claimed it had “traced” those assets to an account serviced by Genesis Global Trading. Following Mr. Tuttle’s representation, LCX withdrew those allegations and “acknowledge[d] and agree[d] that its asserted basis” for its application to seize these assets “should be, and is, withdrawn.”