Jennifer Craven, civil fraud expert at Pinsent Masons, said: “The decision is significant as it strengthens the availability of effective remedies where harm is being caused by anonymous or unidentified actors. It confirms that claimants can take action without first identifying specific wrongdoers, provided the class of ‘persons unknown’ is tightly and clearly defined. This is particularly important in crypto fraud cases, where speed is critical to prevent the rapid dissipation or movement of assets.”

In the case, Smithers v ‘Persons Unknown’, the High Court continued an existing freezing order over cryptocurrency asset accounts linked to participants in an international fraud scheme. It was alleged that crypto assets had…