New York, NY, June 20, 2018 – Today, cryptocurrency exchange Bittrex aided in locating and returning stolen funds to Elizabeth White, CEO of The White Company – a cryptocurrency asset management and luxury marketplace that facilitates sales of high-end goods and experiences – after the Superior Court of Delaware last month awarded White a combined amount of over $2.7 million stemming from her filing two separate complaints against an individual and peer-to-peer cryptocurrency exchange Cointal.

This groundbreaking cryptocurrency lawsuit sets a new precedent for how individuals can use the legal system to recover misappropriated cryptocurrency assets. The defendant and a Cointal employee manipulated the Cointal exchange after entering into an agreement with White to transfer a large amount of Bitcoin (BTC) for Ripple (XRP). The defendant then transferred the funds into a Bittrex wallet which were eventually located and returned to White after the exchange helped identify the fraudster. Rather than waiting for over-burdened government regulators to take action, this lawsuit demonstrates that individuals themselves have effective remedies to trace and recover assets.

Represented by Benjamin Sauter and David McGill of Kobre & Kim, White and her attorneys were not only able to obtain a money judgment in short order, but also simultaneously trace and freeze a substantial amount of assets against which that judgment could be enforced. This is the only known case where a private plaintiff has obtained a judgment for fraud in the cryptocurrency space and then successfully executed that judgment against cryptocurrency assets.

Since White filed earlier this year, dozens of Cointal victims have come forward with similar experiences. White is using her success to help others retrieve stolen funds.

This incident which occurred late last year was a turning point for White as she realized there was a lack of trusted and transparent marketplaces in the crypto space. Earlier this month she launched her own platform, fit with a USD-backed stablecoin, the White Standard, and accompanying White Wallet. Committed to being transparent, the website,www.thewhitecompanyus.com publishes a daily USD balance on deposit, so users are confident their funds are safe and can be withdrawn at any time. White’s mission is to be a “White Knight” in the industry, helping educate consumers on how to responsibly invest and identify best practices before engaging with any platforms.

The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect Null TX's view.