Proposal to approve US$10,000 to engage the legal services of a specialised crypto lawyer in relation to recovery of funds following the recent bug exploit.
- Most of the funds taken during a recent bug exploit were sent to Centralised Exchanges.
- We have lodged reports of the incident with the relevant exchanges and all funds have been temporarily frozen
- Exchanges now require official police reports to return the misappropriated funds back to REF
Approve budged of US$10,000 to engage the services of Michael Bacina, partner at Piper Alderman in Sydney and leading blockchain lawyer in Australia.
The funds will be used to pay for the following services:
- Lodging Police Complaint in Australia and obtain the required Police Certificate that would satisfy the Exchanges requirements
- Liaise with Police and other investigating bodies
- Liaise with Exchanges.
Michael brings in a lot of experience and connections in both the Cybercrimes space and the Exchanges Legal Counsels.
We believe this is a very modest and reasonable amount which can help us expedite the recovery of funds, which is a top priority ATM.