Fabrizio D'Aloia, the creator of the Italian online gambling business Microgame, has been given permission by the High Court of England and Wales to bring legal action against unnamed individuals using a non-fungible token (NFT) drop.
D'Aloia will be able to serve legal documents to individuals who are unknown but linked to two digital wallets thanks to this action. This is essential in the cryptocurrency industry because hacks and frauds are sometimes only connected to wallet addresses.
This is crucial because it demonstrates the court's openness to adopting new technology, including the blockchain, and really stepping in to protect consumers where earlier regulations and laws were unable to.
An associate attorney from Giambrone & Partners LLP named Joanna Bailey informed CoinDesk in an interview.
D'Aloia claimed to have been tricked into depositing roughly 2.1 million USDT and 230,000 USDC into two wallets that later turned out to be fake by an online brokerage.
According to Bailey, the court's decision enables D'Aloia to file a lawsuit against the creators of the fraudulent platform by delivering the court paperwork to the two wallets via an NFT drop.
D'Aloia noted that Binance, Poloniex, Gate.io, OKX, and Bitkub were the locations where his cryptocurrency was stored. D'Aloia received a court order last month prohibiting the exchanges from relocating such assets.