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Syed Rahman makes it clear that anonymity cannot be guaranteed when using cryptocurrency

Author: Syedur Rahman  31 August 2021

As Rahman Ravelli’s Syed Rahman secured a legal first in a cryptocurrency case, he was asked to write an article explaining its significance.

In the case of Fetch AI Limited, Fetch AI Foundation PTE v Persons Unknown, Binance Holdings and Binance Markets, London's High Court ordered the crypto exchange Binance to identify those who carried out a cryptocurrency hack and freeze their accounts. The court’s ruling had the effect of compelling Binance to help control its users’ activity and aid those who have lost assets on the exchange.

Syed wrote a piece for The Global Legal Post about the details of the case and how it showed that those involved in crypto-related crime cannot rely on the cloak of anonymity when conducting their activities.

He emphasised that although the lack of regulation of cryptocurrency and its swift development have made it attractive to those looking to use it to make illegal gains, it is a myth that such activity can be carried out without any chance of identification. Using the right tools and applying the most relevant procedures can – as in this recent case – make it possible to track, locate and recover cryptoassets that have been taken illegally,

In his piece, Syed argued that the decision in his case may be helpful to other parties in the future, when they go to court in an attempt to recover assets they have lost through crypto fraud – assets held in an unknown location by someone whose identity is, initially, unknown.

Syed’s article featured on the The Global Legal Post

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Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, civil recovery, cryptocurrency and high-stakes commercial disputes.

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