Wife Accused Of Spying And Stealing $172M In Bitcoin From Husband
A legal battle over a substantial sum of Bitcoin has progressed in the UK’s High Court of Justice, involving allegations of theft and covert surveillance within a matrimonial home. The dispute centers around Ping Fai Yuen, a UK resident who claims that his estranged wife, Fun Yung Li, unlawfully transferred 2,323 Bitcoin from his Trezor hardware wallet in 2023. The funds, valued at over $172 million, were subsequently split across 71 different addresses through a series of transactions, with no further movement recorded since December of the same year.
Yuen asserts that Li gained access to the wallet’s recovery phrase, enabling her to recreate the wallet and transfer the Bitcoin without his knowledge. He alleges that Li, possibly aided by her sister Lai Yung Li, conducted covert surveillance inside their home to capture the necessary information. Yuen’s daughter had reportedly warned him of Li’s attempts to access his Bitcoin in July 2023, prompting him to install audio recording equipment in the residence. Recordings from these devices serve as crucial evidence in the case, with excerpts capturing Li discussing the transfer of Bitcoin and the location of Yuen’s wallet credentials.
Upon discovering the unauthorized transfer, Yuen confronted Li and was subsequently arrested for assault. The police initiated an investigation into the alleged theft, leading to Li’s arrest and the seizure of 10 cryptocurrency cold wallets, including those connected to Yuen. Despite this, authorities released Li following a no comment interview, citing a lack of new evidence to take further action.
In November 2025, Yuen sought a court injunction to preserve his ownership rights over the Bitcoin, freeze Li’s cryptocurrency holdings, and recover the stolen assets or their equivalent value in British pounds. Following a hearing on March 2, Justice Cotter issued a judgment supporting Yuen’s case, emphasizing the warning from his daughter, incriminating audio transcripts, and the presence of equipment capable of accessing the wallet. Cotter highlighted the principle of Occam’s razor, suggesting that the simplest explanation aligns with the evidence presented and noted Li’s failure to provide her version of events.
Given the volatile nature of Bitcoin, Cotter emphasized the need for a swift trial to prevent fluctuations in the asset’s value during litigation. The case is poised to set a precedent for English courts in handling ownership and recovery disputes involving digital assets, showcasing the evolving intersection of technology and law in the realm of cryptocurrency.
