Singapore court freezes $58M in BTC, USDC in exchange transfer dispute

The Singapore International Commercial Court said it had ordered the freezing of about S$75 million ($58 million) in BTC and USDC in a mistaken-transfer dispute between a cryptocurrency exchange and a customer. The court barred the disposal of 780 BTC, 816,773 USDC and any related proceeds transferred out by the exchange user. The exchange claimed an internal ledger error led to the mistaken crediting of 2,500 BTC and 2,500 BCH to the customer in 2024. After discovering the error, the exchange froze the account and recovered the remaining 1,700 BTC and 2,500 BCH.