{"id":221177,"date":"2022-07-14T09:24:52","date_gmt":"2022-07-14T14:24:52","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=221177"},"modified":"2022-07-14T15:47:14","modified_gmt":"2022-07-14T20:47:14","slug":"microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/","title":{"rendered":"Microgame Founder Can Sue Alleged Fraudsters Via Blockchain in UK Ruling"},"content":{"rendered":"

An Italian online gambling pioneer who says he lost more than US$2.3 million in cryptocurrency to fraudsters can sue the alleged perpetrators via blockchain.<\/p>\n

\"Fabrizio
Microgame founder Fabrizio D\u2019Aloia, pictured, says he was induced into transferring over $2 million in crypto onto a clone trading site run by fraudsters. (Image: Wikipedia)<\/figcaption><\/figure>\n

A London High Court has given Microgame founder Fabrizio D\u2019Aloia permission to serve legal documents to the nameless alleged fraudsters. He will do so over the blockchain ledger using a non-fungible token<\/a> (NFT). The ruling is the first of its kind outside the US<\/p>\n

The judgment is significant because it allows victims of cryptocurrency fraud<\/a> to pursue anonymous criminals through the UK courts.<\/strong><\/p>\n

D\u2019Aloia launched Microgame, not to be confused with software provider Microgaming, in 1996. In 1998, Microgame was one of the first movers into the newly regulated Italian online sports betting market before subsequently launching online poker, bingo, and a casino when they also became legal. D\u2019Aloia stepped down from an executive role within the company in 2013.<\/p>\n

\u2018Persons Unknown\u2019<\/strong><\/h2>\n

D\u2019Alioia is suing \u201cpersons unknown\u201d who posed as the online brokerage TD Ameritrade with the website tda-finan.com.<\/p>\n

\n

He claims the fraudsters induced him to transfer over $2.1 million worth of Tether and about $225,000 of USD Coin from his crypto wallets to trade on the phony platform. The transactions took place from December 2021 to May 2022, when D\u2019Aloia realized he had been duped.<\/p>\n<\/div>\n

Investigators hired by D\u2019Aloia discovered that almost all of the stolen crypto has been transferred to several private addresses, as well as five exchanges.<\/p>\n

D\u2019Aloia is also suing the exchanges, Binance, Poloniex, gate.io, OKX (formerly OKEx), and Bitkub, claiming they hold his identifiable cryptocurrency as constructive trustees.<\/strong><\/p>\n

A constructive trustee is a party that holds a legal asset that they should not possess due to unjust enrichment or interference, for example.<\/p>\n

The judge, Mr. Justice Trower, found there was a \u201cgood arguable case\u201d of constructive trustee liability on behalf of the crypto exchanges. D\u2019Aoia\u2019s lawyers, Giambrone & Partners, said in a statement that the significance of this judgment could \u201cnot be overstated.\u201d<\/p>\n

\u201cShould cryptocurrency exchanges act contrary to such orders and fail to ringfence the identifiable cryptocurrency, they risk being held liable for breach of trust,\u201d the firm explained.<\/p>\n

\u2018NFT Airdrop\u2019<\/strong><\/h2>\n

Trower said proceedings would be served to the fraudsters in the form of an NFT \u201cairdrop\u201d into the tda-finan wallets. These were the wallets into which D\u2019Aloia was allegedly tricked into transferring his cryptocurrency.<\/p>\n

There can be no objection to it,\u2019 Trower said. \u2018Rather, it is likely to lead to a greater prospect of those who are behind the tda-finan website being put on notice of the making of this order, and the commencement of these proceedings.\u201d<\/p><\/blockquote>\n

Giambrone & Partners praised the ruling as a \u201cwelcome example of a court embracing new technology.\u201d<\/p>\n

It follows a similar judgment made in the Supreme Court of the State of New York on June 2 this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

An Italian online gambling pioneer who says he lost more than US$2.3 million in cryptocurrency to fraudsters can sue the alleged perpetrators via blockchain. A London High Court has given Microgame founder Fabrizio D\u2019Aloia permission to serve legal documents to the nameless alleged fraudsters. He will do so over the blockchain ledger using a non-fungible […]<\/p>\n","protected":false},"author":36,"featured_media":221178,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24066,60],"tags":[],"acf":[],"yoast_head":"\nMicrogame Founder Can Sue Via Blockchain in Landmark UK Ruling<\/title>\n<meta name=\"description\" content=\"D\u2019Aloia, Microgame founder, secures landmark ruling in London that allows him to pursue crypto fraudsters using an NFT \u2018airdrop.\u2019\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Microgame Founder Can Sue Via Blockchain in Landmark UK Ruling\" \/>\n<meta property=\"og:description\" content=\"D\u2019Aloia, Microgame founder, secures landmark ruling in London that allows him to pursue crypto fraudsters using an NFT \u2018airdrop.\u2019\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-14T14:24:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-14T20:47:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Fab.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"803\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/\",\"url\":\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/\",\"name\":\"Microgame Founder Can Sue Via Blockchain in Landmark UK Ruling\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Fab.jpg\",\"datePublished\":\"2022-07-14T14:24:52+00:00\",\"dateModified\":\"2022-07-14T20:47:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"D\u2019Aloia, Microgame founder, secures landmark ruling in London that allows him to pursue crypto fraudsters using an NFT \u2018airdrop.\u2019\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/microgame-founder-can-sue-via-blockchain-in-landmark-uk-ruling\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Fab.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Fab.jpg\",\"width\":1200,\"height\":803,\"caption\":\"Microgame founder Fabrizio D\u2019Aloia, pictured, says he was induced into transferring over $2 million in crypto onto a clone trading site run by fraudsters. 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