Ontario Judge Directs Video Game Developer to Halt Transactions of Alleged ‘Crypto King’ Accounts
An Ontario judge has issued a directive to Valve Corporation, the developer of the widely-used video gaming platform Steam, to freeze the accounts linked to Ontario’s self-proclaimed ‘Crypto King.’ The order aims to prevent any further trading or liquidation of assets associated with the individual.
Following a court hearing on Thursday, Justice Black of the Ontario Superior Court approved the motion put forth by bankruptcy trustee Grant Thornton. This order mandates Valve to furnish the trustee with comprehensive details concerning the 25-year-old’s Steam account.
The court session transpired two weeks subsequent to the release of a bankruptcy report, which disclosed that Pleterski, the individual in question, had transferred over $500,000 across various video gaming platforms. These transactions notably included the sale of high-value in-game items, specifically virtual knives known as ‘Skins,’ which players can exchange for real currency or in-game funds.
According to court documents, the trustee has made repeated requests to both Pleterski and Steam for access to these accounts, yet access has not been granted.
Additionally, the trustee has petitioned for a two-year extension of Pleterski’s bankruptcy, which commenced in August 2022. This request stems from what he described as Pleterski’s “catch me if you can” approach, as outlined in a court document filed on Thursday.
Since Pleterski was declared bankrupt almost two years ago, approximately 18.5% of the invested funds have been recovered, according to the trustee’s calculations.
During this period, Pleterski has failed to surrender some of his assets, such as a Jacob & Co. Astronomia Casino watch valued at over $360,000 when purchased. Moreover, he has financed months of global travel using undisclosed Scene+ points, creating circumstances deemed “exceptional” by the trustee, as indicated in the documents.
Additionally, the trustee has proposed that Pleterski’s discharge, the ultimate phase in the bankruptcy process, be contingent upon his payment of $4.5 million for assets purportedly unaccounted for.
