Lawyers for 12 developers told the UK High Court that the company, Tulip Trading, never owned the 111,000 bitcoin it is trying to claim. The company, the developers allege, has “fabricated” documents to prove ownership of the tokens and fraudulently gain control over the funds. The Bitcoin Legal Defense Fund, an organization funded by Twitter (now X), Bluesky and Block (formerly Square) founder Jack Dorsey and others, shared the filing.

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