Constructive trust in cryptoasset fraud: <i>D’Aloia v Persons Unknown and others</i> [2024] EWHC 2342 (Ch)

Abstract This case note examines the recent case D’Aloia v Persons Unknown and others [2024] EWHC 2342 (Ch), which affirmed the status of cryptoassets as property under common law, and applied traditional legal principles, including unjust enrichment and constructive trust, to address crypto fraud involving Tether (USDT). This case note also highlights the tension between established legal doctrines and blockchain’s technical realities, emphasizing the need for evolving legal frameworks, including remedial constructive trusts and proportional recovery methods, to adapt to crypto-litigation challenges.