Ruscoe & anr v Cryptopia Ltd [2021] WTLR 965

Wills & Trusts Law Reports | Autumn 2021 #184

The defendant company was formed as a cryptocurrency trading exchange platform based in New Zealand in 2014. It enabled users to register as account holders, make deposits and carry out trades of various types of digital assets for which the company charged fees. The initial deposit would be made into a ‘hot wallet’ connected to the internet for which there was a public key. When not required to meet withdrawal requests, the deposit would be transferred to a ‘cold wallet’ which was not connected to the internet and for which there was a private key, similar to a password, known only to t...