Overview
- The Third District Court of Appeal reversed a dismissal for lack of personal jurisdiction, allowing state claims to proceed in Miami-Dade County.
- Plaintiff Michael Osterer says hackers stole about 1,000 BTC in 2022 and alleges Binance failed to freeze funds moved through a Binance account.
- The ruling cites Binance’s use of Amazon Web Services and U.S.-facing operations as sufficient contacts for Florida jurisdiction.
- The case returns to trial court to litigate negligence, breach of contract, and recovery of roughly $80 million plus interest.
- The decision could encourage similar suits against offshore exchanges, and Binance may pursue further appeal or arbitration.