The Hong Kong District Court ordered unlicensed crypto exchange, JPEX, to return 247,498 USDT to two plaintiffs who were unable to withdraw their deposits. The court found that JPEX held the USDT in an express trust for the plaintiffs and had breached its duties as trustee by transferring the USDT without their authorisation. If the USDT are untraceable, JPEX must provide equitable compensation.
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