Expert Witness Journal Issue 63 October 2025 - Flipbook - Page 94
which the Bitcoin was to be repaid. It was the choice
of Huobi to draw Bitcoin from an unconnected
wallet address and reimburse itself from the
Targeted Wallet, rather than a direct consequence
of the order. The Court found that Kyrrex was only
indirectly a昀昀ected by the judgment, and that any
claim it had lay against Huobi under its terms of
business.
The Court also noted that Kyrrex had delayed in
making its application and Huobi had since been
deregistered. Accordingly, prejudice would be
caused to Mr Jones should the judgment be set aside
and the proceedings reopened.
Conclusion
This case illustrates that cryptocurrencies di昀昀er
widely, and exchanges operate under varied models.
The ownership rights of participants can vary
signi昀椀cantly depending on each exchange’s terms of
business. Therefore, participants in cryptocurrency
markets must pay attention to both an exchange’s
terms of business and how it operates in practice.
As with any cryptocurrency fraud, acting quickly is
crucial to protecting and enforcing your rights over
the assets you hold.
For more information, please contact a member of
our Dispute Resolution team at:
www.mhc.ie/practice-areas/dispute-resolution
MR RAYMOND DAVIDSON
BA FCA MAE - Head of Forensic Accounting
Raymond Davidson is a Forensic Accountant and Expert Witness providing Forensic Accounting Services throughout the UK and
Ireland. Formerly Head of Bartfields Forensic Accounting, Raymond has been specialising in Forensic Accounting and Litigation
work for over 30 years.
He has been providing Forensic Accounting services to solicitors on a variety of forensic assignments and has over 40 years
experience in the accountancy profession. He has wide experience in the provision of expert reports and conducting investigations
in both Civil and Criminal cases.
Raymond regularly undertakes forensic accounting in the following areas:
l Fraud & Criminal proceedings including Confiscation and the Proceeds of Crime Act(POCA).
l Business Dispute Resolution.
l Share & Business Valuations.
l Divorce and Matrimonial Disputes.
l Professional Negligence.
l Tax Investigations.
l Insolvency Litigation.
l Personal Injury & Fatal Accident Claims.
l Business Interruption and Insurance Claims.
l
Covid Fraud.
l Cryptocurrency Investigations.
l Mediation
A Fellow of the Institute of Chartered Accounts in England and Wales and trained by the Academy of Experts to act as a Mediator.
His experience extends across multiple industries and sectors and he is committed to helping the legal profession make sense of
the numbers. With a reputation for delivering independent opinions to complex issues in an easy-to-understand manner, whether
that be in a written report or in the witness box. Displaying a unique ability to identify the significant aspects of the matter in dispute
and what is required to be able to form a concluded opinion on those issues.
Contact: Davidson's Forensic Accountants
Tel: +44 (0) 113 483 1127 - Mobile: +44 (0) 771 919 2257
Email: raymond.davidson@davidsonsforensic.co.uk - Website: www.davidsonsforensic.co.uk
Address: Suite B4, Joseph’s Well, Hanover Walk, Leeds, West Yorkshire, LS3 1AB
EXPERT WITNESS JOURNAL
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OCTOBER/NOVEMBER 2025
