Florida Court Revives Lawsuit Against Binance Over $80 Million Bitcoin Theft

A Florida appeals court has reinstated a lawsuit against Binance related to a major 2022 Bitcoin theft, finding the exchange’s ties to the state strong enough to warrant state-level claims. The case, filed by Michael Osterer after he suffered approximately $80 million in losses due to a hack of his crypto wallet, alleges Binance failed to take immediate action to freeze the stolen funds and prevent their transfer. The decision opens doors for other plaintiffs seeking similar action against exchanges operating outside US borders.