Estate of Rebecca Hong Chen Files Claim for Seized Cryptocurrency and Cash in California Court

On Monday, December 23, 2024, the Estate of Rebecca Hong Chen filed a verified claim in the US District Court for the Northern District of California, asserting its interest in approximately 1,360,000.748 Tether (USDT) and $3,859,703.65 in U.S. currency. The assets, previously held in a Kraken cryptocurrency account, were seized by authorities on or about March 7, 2023.

The claim was submitted by the estate’s legal representation, which includes attorneys from Boies Schiller Flexner LLP and The Crypto Lawyers PLLC. The filing references the Federal Rules of Civil Procedure and contends the estate’s ownership of the seized assets.

Rebecca Hong Chen, who passed away on August 31, 2023, is identified as the claimant in this case. Her estate is currently undergoing probate, which is still in progress. The filing indicates that the estate claims an ownership interest in the assets based on its status as a beneficiary of a constructive trust, as well as the assertion that Ms. Hong Chen was a victim of criminal activities that led to the forfeiture of the assets.

According to the verified claim, Ms. Hong Chen interacted with an individual named “Hao Yang,” who allegedly deceived her by promising substantial returns on cryptocurrency investments. Between August 27, 2022, and December 19, 2022, Ms. Hong Chen transferred approximately $5.5 million, believing she was investing in her personal cryptocurrency account on a platform called NYMEX. However, it has been revealed that this platform was fraudulent.

The claim outlines that the assets in question, identified as Asset ID: 23-USS-000215 for the Tether and Asset ID: 23-USS-000216 for the U.S. currency, were seized in connection with the criminal offenses underlying the forfeiture actions initiated by the government.

In the legal document, Robert Purdy, the executor of Ms. Hong Chen’s estate, verified the claim under penalty of perjury, attesting to the accuracy of the statements made regarding the estate’s interest in the seized assets.

Please contact BlockTribune for access to a copy of this filing.