Our Managing Partner, Nazmi Zaini together with our Senior Associate in Dispute Resolution and Trademark Agent, Azrul Haziq Khirullah have successfully defended our client in a civil claim involving allegations of breach of a friendly loan agreement arising from crypto transactions including decentralised exchange (DEX) swaps and Non-Fungible Token (“NFT”) trades.
The claim concerned, among others, the amount allegedly loaned for the purpose of purchasing NFT tokens and altcoins, investment in pool staking and token swaps, amounting to approximately RM150,000.00. The defence that was raised against the claim was on the existence of the alleged loan agreement, the contractual relationship of the parties as investment partners and the legality of the underlying transaction/activity in Malaysia.
After hearing testimony from both parties, the learned judge, applying the standard of balance of probabilities, dismissed the claim with costs. Our strategic defence secured a favourable outcome, reinforcing our firm’s capability in navigating crypto-related litigation.
