"He alleges Ms Yuen set up CCTV in his house and secretly recorded him as he sat and hid the password in their family home in August 2023. After being alerted to the fact she was allegedly trying to steal the currency by his daughter, Mr Yuen erected audio recording equipment which picked up Ms Yuen discussing CCTV which has been set up in the house."
"According to the court documents, in August 2023 the cryptocurrency was stored in an address on the blockchain protected by a private key. This key was kept in a cold wallet, meaning it was not connected to the internet, on a physical device referred to as the Trezor. The Trezor was also protected by a six-digit PIN. However, any person with access to the Mr Yuen's seed phrase (a randomly generated set of 24 words) could use it to recreate the wallet on a separate device."
"He claims the recordings show beyond reasonable doubt that it was Ms Yuen who obtained the seed phrase and exfiltrated the bitcoin. He is now suing his estranged wife and her sister for the bitcoin, which has fluctuated in value between 160m and 180m during the course of the case, according to court documents."
Ping Fai Yuen claims his estranged wife Fun Yung Li set up hidden CCTV cameras in their home to record him entering his bitcoin seed phrase—a 24-word password protecting his cryptocurrency stored in a Trezor cold wallet. After his daughter alerted him to the alleged theft attempt, Mr Yuen installed audio recording equipment that captured discussions about the CCTV setup. He alleges Ms Yung Li used the recorded seed phrase to access and steal approximately £180 million in bitcoin. Police arrested Ms Yung Li in December 2023 and seized multiple cold wallets and recovery seeds from their home. Mr Yuen is now suing his estranged wife and her sister to recover the stolen cryptocurrency. He was convicted of assault after confronting Ms Yung Li upon discovering the theft.
Read at www.independent.co.uk
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