Singapore High Court Permits NFTs to Monitor Hacked Cold Wallets

iSanctuary Gets Permitted to Attach NFTs to Cold Wallet

The Singapore High Court has allowed financial investigation firm iSanctuary to join non-fungible tokens (NFTs) to cold wallets linked to a hack. These NFTs, representing a court-issued worldwide freeze order, act as vigilance to potential counterparties and exchanges regarding the wallet's involvement in illegal activities. iSanctuary has also found a method to track funds leaving wallets through these NFTs. The case coincides with a stolen private key, with Singapore-based crypto exchanges reportedly involved in laundering the stolen funds across multiple countries. This innovative approach may serve to police the blockchain and identify holders of illegal assets.