Singapore Court Authorizes Freeze Order on Wallets Linked to Soulbound NFT

The Singapore High Court has permitted the financial investigation firm Intelligent Sanctuary (iSanctuary) to attach non-fungible tokens (NFTs) that contain a legal document to cold wallets linked to a hacking incident, as reported by local media and iSanctuary, which is based in the United Kingdom.

A global freeze order issued by the court has been tokenized into soulbound NFTs and affixed to the specified wallets. Although these NFTs will not block transactions from these wallets, they will serve as a notification to counterparties and exchanges about their involvement in a hack. Furthermore, iSanctuary has stated that it has developed a method to track funds exiting the wallets due to the presence of the NFTs. These NFTs will remain permanently linked to the wallets.