UK Man Alleges Wife Used CCTV to Steal $176 Million in Bitcoin
Plaintiff Ping Fai Yuen alleges that his estranged wife, Fun Yung Li, and her sisters used home surveillance footage to obtain the 24-word seed phrase for a Trezor hardware wallet in 2023. The case involves not only a marital property dispute but also questions over how UK law classifies digital assets such as Bitcoin and what remedies apply.
On March 10, 2026, Judge Cotter of the High Court of England and Wales’ King’s Bench Division dismissed the conversion claim but allowed other property claims to proceed. The disputed 2,323.284 Bitcoin was transferred to 71 addresses on August 2, 2023, and is now valued at about $176 million. The addresses have remained inactive since December 21 that year, and Yuen says he has recordings of his wife discussing the transfer of the funds.
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The history behind this eventUK High Court Hears $172 Million Bitcoin Theft Case Involving CCTV Capture of Hardware-Wallet Seed Phrase
UK resident Ping Fai Yuen alleges that his estranged wife, Fun Yung Li, used CCTV cameras in their home to capture the 24-word seed phrase for his Trezor hardware wallet, enabling her to reconstruct the wallet and transfer its assets. The case highlights the physical-surveillance risks associated with self-custody and tests whether traditional UK property law can effectively recover digital assets such as Bitcoin.
The King’s Bench Division of the High Court of England and Wales issued a ruling on March 10, 2026, allowing the case to proceed to trial. Yuen alleges that 2,323.28423347 Bitcoin were transferred to 71 addresses on August 2, 2023. The assets were worth nearly $60 million at the time and are now estimated at about $172 million. Justice Cotter also said the claimant had a “very high” likelihood of succeeding.
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