Bitcoin Theft Lawsuit Against Binance Advances as Florida Appeals Court Finds Personal Jurisdiction

According to Bloomberg, a fraud victim has filed a state court action against Binance Holdings Inc. over an alleged $80 million loss in Bitcoin. The complaint frames the incident within the broader debate over crypto exchange accountability and the ability to recover assets across borders in a rapidly evolving regulatory environment.

On Wednesday, the Florida Third District Court of Appeal reversed the trial court, finding that it erred in ruling there was no personal jurisdiction over Binance in this matter. The decision narrows the jurisdictional hurdle for this case, which also alleges the exchange did not take sufficient steps to freeze the stolen funds and facilitate recovery.