Moopay LTD and ex-CEO Alex Green have been ordered by a UK court to hand over 750 BTC to the team that developed the syscoin cryptocurrency.
The final injunction, issued by the High Court in London, was granted in response to a request from UK-based law firm Selachii LLP on behalf of syscoin.
Moopay, known commonly as Moolah, and Green had been holding the money for the developers and have now been ordered to repay the 750 BTC before 16:00 (GMT) tomorrow.
Selachii announced the final injunction on Twitter, issuing an advisory to Moolah’s Twitter account following several unsuccessful attempts to make contact.
Message to 'bad actors'
CoinDesk spoke with syscoin manager and developer Dan Wasyluk, who said that the process of reclaiming the held funds won’t happen overnight. The team are happy with the result of today’s hearing and looking forward to the next stage in their legal fight, he said, adding:
So far, Wasyluk said, neither Green or his legal representation have responded to messages or court documents. However, he expressed hope that the injunction will have a significant impact on the future of the case and the developers' ability to access the remainder of funds raised during an initial coin offering held in July.
“With this last injunction, it is very clear cut,” he said.
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