Timoria LLC Seeks Court Help to Freeze $4.7M in Allegedly Stolen Crypto Assets

Crime, News | February 28, 2024 By:

On Friday, February 23, 2024, Timoria LLC filed an emergency motion in the Delaware Court of Chancery seeking to freeze over $4.7 million in cryptocurrency it claims was stolen.

According to the verified complaint filed by Timoria, an unknown party or parties gained access on February 13th to the corporate cryptocurrency accounts of Timoria’s assignor and withdrew 1,019.75 ETH, 792,746 USDT, 9,758.35 ApeCoin, 645,045,684 Shiba Inu tokens, 1,780.686 BNB, and 556,431.94 BSC-USD. At the time, these stolen assets were worth a total of approximately $4.7 million.

Timoria alleges the defendants, referred to as John Doe 1 and John Doe 2, then transferred the stolen cryptocurrency to private wallets on the blockchain in an attempt to cover their tracks. By February 15th, Timoria claims the assets had been converted to ETH and consolidated in a single wallet address.

In its motion for expedited proceedings, temporary restraining order, and preliminary injunction, Timoria is seeking to freeze the stolen assets and identify the John Doe defendants. It also wants to prevent any further transfers of the assets by freezing cryptocurrency accounts and wallets connected to the theft.

Timoria has named several cryptocurrency exchanges and infrastructure providers as non-parties that may have information to help identify the defendants, including Binance.com, Uniswap, Stargate Finance, Wormhole, 1Inch, and FixedFloat. The company is requesting orders from the Court instructing these entities to disclose any information related to the identities of the John Doe defendants and to freeze any stolen assets or accounts in their possession.

Social media companies LinkedIn and GitHub are also named as non-parties that may have data that could reveal the true names behind the defendant pseudonyms. Timoria wants an order for these firms to turn over identity information on the defendants.

A hearing on Timoria’s motion for expedited proceedings was requested before Chancellor Kathaleen St. Jude McCormick at the earliest date possible. In its motion filings, Timoria argues it needs emergency relief due to the risk the stolen cryptocurrency could continue being moved between wallets and further obscured without a freeze in place.

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