Binance is facing renewed legal pressure after a Florida appeals court reinstated a lawsuit alleging negligence in handling the theft of nearly 1,000 Bitcoin back in 2022. The case was previously dismissed on jurisdictional grounds but is now being reopened for trial. The appeal ruling suggests Binance’s U.S.-facing operations and reliance on US infrastructure like Amazon Web Services contribute to its jurisdiction in Florida. This decision could set a precedent for more state-level lawsuits against crypto exchanges concerning stolen funds. ⚖️ The case focuses on Michael Osterer’s alleged $80 million loss after hackers withdrew roughly 1,000 Bitcoin from his wallet, claiming that Binance failed to act swiftly and recover the funds, constituting negligence. His lawsuit, filed in 2023, seeks full reimbursement of stolen assets plus interest. This decision could encourage other plaintiffs who experienced similar losses to pursue legal action against Binance. The appeals court also rejected Binance’s defense that they lacked a physical presence in Florida, highlighting its U.S. operational ties as sufficient for jurisdiction. 💥 This ruling may weaken the common strategy of offshore exchanges using jurisdictional arguments to avoid state-level lawsuits. Legal experts believe this decision could encourage other victims to pursue similar claims against the exchange.