Omar Hurlock Files Motion for Temporary Restraining Order to Freeze $LIBRA Cryptocurrency Assets
On Thursday, May 29, 2025, Omar Hurlock filed a motion for a temporary restraining order (TRO) in the US District Court for the Southern District of New York. The motion, which also requests a preliminary injunction, aims to prevent Kelsier Ventures and its associates from accessing, transferring, or otherwise interfering with $LIBRA cryptocurrency and its proceeds.
Hurlock, representing himself and a proposed class of victims, claims the defendants have stolen over 280millionfromconsumersbymisrepresenting280 million from consumers by misrepresenting LIBRA as a legitimate investment tied to Argentina’s economy. The motion alleges that, instead, the defendants engaged in a market manipulation scheme to inflate the price of $LIBRA and extract profits before a price collapse.
The legal documents indicate that the defendants, specifically Hayden Davis, control approximately 110millionofthe110 million of the LIBRA proceeds. Additionally, the motion seeks to freeze around 57.6 million USDC, a stablecoin linked to the U.S. dollar, held in two identified cryptocurrency wallets. The proposed order would also direct Circle Internet Group, Inc. and its subsidiary Circle Internet Financial, LLC to freeze these assets.
In support of the application, Hurlock submitted multiple documents, including declarations from Timothy J. Treanor, a managing principal at Treanor Law PLLC, and Justin Ehrenhofer, a senior director at Naxo Labs, who traced the funds linked to $LIBRA into the specified wallets. The filings emphasize the urgency of the situation, arguing that any transfer of these assets could lead to irreparable harm to the victims.
The motion highlights the risks associated with cryptocurrency transactions, noting that funds can be quickly transferred, making recovery difficult. Hurlock expressed concern that the nearly $58 million worth of USDC in the identified wallets could be converted into other cryptocurrencies, complicating efforts to secure the assets.
Hurlock also pointed out that Davis has publicly stated he does not intend to use the proceeds to compensate victims, citing external pressures to transfer the assets elsewhere. This situation raises significant concerns about the defendants’ control over the funds and the potential for them to evade legal obligations.
The application for the TRO was filed ex parte, meaning that it was submitted without prior notice to the defendants. This approach was taken to mitigate the risk of asset diversion before the court could act. Following the issuance of a TRO, the defendants will have the opportunity to challenge it during a hearing on the preliminary injunction.
The case continues to develop as the court evaluates the motion for the temporary restraining order and the preliminary injunction.
Please contact BlockTribune for access to a copy of this filing.
