NY Court Backs $5.2M Arbitration Award For Bitcoin SV Hack

By Allison Grande (July 14, 2022, 7:36 PM EDT) — A New York federal judge on Wednesday confirmed a $5.2 million arbitration award secured by the owner of the Bitmart cryptocurrency exchange against dozens of alleged hackers accused of carrying out an attack on the Bitcoin SV network last year.

Bitmart owner GBM Global Holding Co. Ltd. asked the Southern District of New York last month to confirm a $5,231,549.42 award an arbitrator with the American Arbitration Association issued May 2 in the company’s favor against 91 individuals who allegedly registered accounts on the bitcoin exchange and then proceeded to carry out a series of sham transactions that duped the exchange…

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