The UK High Court recently held a remote hearing for a high-value Bitcoin theft case. The plaintiff, Ping Fai Yuen, accused his estranged wife, Fun Yung Li, of stealing 2,323 Bitcoins stored in a Trezor hardware wallet in 2023. He claims she used CCTV footage to secretly record the recovery phrase and access password, then transferred the assets in batches. The Bitcoins involved are valued at approximately $176 million USD at the time of reporting.
Plaintiff: Wife and her sister recorded recovery phrase and transferred Bitcoin
Ping Fai Yuen and Fun Yung Li were originally married. The dispute arose during divorce proceedings. In early July 2023, Ping’s eldest daughter told her father that her mother was planning to take his Bitcoin. Ping installed recording devices to monitor. Recordings from July 29 and 31 became key evidence, clearly capturing Fun Yung Li and her sister discussing: “The Bitcoin is already transferred to me,” “Take it first,” “Be careful, he can’t catch us,” “Use a second wallet,” “Find a hacker,” and also mentioning how to avoid banks and police detection for large sums.
According to the judgment published by the UK High Court’s King’s Bench Division on March 10, 2026, court documents show the plaintiff alleges that defendants Fun Yung Li and Lai Yung Li were involved in exfiltrating the Bitcoin, transferring assets to multiple addresses. The plaintiff claims these Bitcoins were moved to 71 different addresses.
Court documents also include summaries
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