According to ME News, on October 22 (UTC+8), the Kuala Lumpur High Court ruled that the Malaysian government must fully return the seized 497.82 bitcoins (currently valued at approximately $40.73 million) to nine victim investors. The victims had deposited a total of 362.04 bitcoins into Bitkingdom wallets between 2015 and 2016, after which the funds were transferred to the wallets of two individuals involved in the case. The court determined that the nine applicants had proven they were defrauded and held legitimate claims to the seized assets, ordering the bitcoins to be distributed among them in proportion to their respective contributions. (Source: Foresight News)
Malaysian court orders government to return 497.82 BTC to nine investors
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Summary
A Malaysian court has ordered the government to return 497.82 BTC to nine investors, citing MetaEra. The ruling, issued on October 22 by the Kuala Lumpur High Court, states that the BTC—valued at approximately $40.73 million—was improperly seized under CFT regulations. The investors had deposited 362.04 BTC into the Bitkingdom wallet between 2015 and 2016, which was later transferred to scam wallets. The court recognized their legitimate claims and ordered a proportional distribution based on their initial investments. As global demand for BTC as a hedge against inflation rises, this case underscores the importance of legal clarity in asset recovery.
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