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$80 Million Bitcoin Theft Case Reversed: Appeals Court Overturns Initial Verdict, Exchange May Face Liability
[BlockBeats] Just saw some big news: someone in Florida lost $80 million worth of Bitcoin, and now they can finally continue suing a major exchange.
Here’s what happened: this guy’s previous lawsuit was dismissed because the court said it didn’t have jurisdiction over that exchange. But on Wednesday, the state appeals court overturned that decision, basically calling out the lower court and saying they actually do have jurisdiction.
What’s the core dispute? The victim accuses the crypto exchange of failing to keep the account frozen after discovering the stolen funds, which let the money get away. Now the case can be retried, and it’s up to the court to decide who’s responsible. Honestly, $80 million in Bitcoin—anyone would be freaking out.