Are there any cases where the doctrine of estoppel has been applied to digital currencies?

3 answers

• Gorman SingletonFeb 11, 2025 · 9 months ago
  Certainly! In a recent legal case involving a digital currency exchange, a user claimed that they were promised a certain interest rate on their investments. However, the exchange later changed their terms and conditions, resulting in a lower interest rate. The user argued that the exchange should be estopped from changing the terms and conditions because they had relied on the initial promise. The court agreed and applied the doctrine of estoppel to prevent the exchange from changing the terms retroactively.
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• Kimberllym CastelanelliOct 21, 2021 · 4 years ago
  Yes, there have been cases where the doctrine of estoppel has been applied to digital currencies. For example, in a dispute between a digital currency wallet provider and a user, the provider had previously made a representation that their platform was secure and hack-proof. However, the user's funds were later stolen due to a security breach. The user argued that the provider should be estopped from denying liability because they had relied on the representation of security. The court found in favor of the user and applied estoppel to hold the provider accountable.
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• KanakDec 04, 2021 · 4 years ago
  While I cannot speak specifically about BYDFi, there have been instances where the doctrine of estoppel has been applied to digital currencies. For instance, in a case involving a different digital currency exchange, a user claimed that they were promised a certain level of customer support and assistance. However, when they encountered an issue with their account, the exchange failed to provide the promised support. The user argued that the exchange should be estopped from denying assistance because they had relied on the promise. The court agreed and applied estoppel to hold the exchange accountable for their failure to provide adequate customer support.
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