Singapore court docket authorizes freeze order hooked up to wallets as soulbound NFT

The Singapore Excessive Court docket has allowed monetary investigation agency Clever Sanctuary (iSanctuary) to connect nonfungible tokens (NFTs) containing a authorized doc to chilly wallets related to a hack, in accordance with United Kingdom-based iSanctuary and native press accounts.

A court-issued worldwide freeze order was tokenized as soulbound NFTs and hooked up to the wallets in query. The NFTs won’t stop transactions with the wallets however will function a warning to counterparties and exchanges that the wallets had been concerned in a hack. As well as, iSanctuary claimed it has devised a way of monitoring funds leaving the wallets, due to the NFTs. The NFTs might be completely hooked up to the wallets.

Proceed Studying on Cointelegraph