The Singapore High Court has granted financial investigation startup Intelligent Sanctuary (iSanctuary) authority to attach non-fungible tokens (NFTs) holding a legal document.
The Singapore High Court has granted financial investigation startup Intelligent Sanctuary (iSanctuary) authority to attach non-fungible tokens (NFTs) holding a legal document to cold wallets related to a hack. The worldwide freezing order granted by the court was tokenized as soulbound NFTs and will act as a notice to counterparties and exchanges that the wallets have been involved in the hack.
According to The Straits Times, the case involves a stolen private key and that Singapore-based crypto exchanges were involved in the theft allegedly executed by Singapore-based criminals. The case apparently extended to countries from Spain, Britain, and other European countries.
While the NFTs won't prevent transactions by the wallets, they allow iSanctuary to track stolen funds leaving the wallets. Mintology, an app developed by Singaporean NFT studio Mintable, was named as the creator of the NFTs. The case involves stolen crypto assets, with crypto exchanges in Singapore and multiple countries suspected of laundering the funds.
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