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However, B2C2 alleges that Quoine had “acted fraudulently”, based on the agreement that an order, once fulfilled, is “irreversible”, and sought to recover its losses of over 3,000 bitcoins.B2C2 also argues that Quoine’s breach of trust “deprived it of the opportunity to sell the proceeds on the date of their highest immediate value”, the court was told during a hearing on Dec 5.

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In its 24-page report published on a portal for members of the Law Society of Singapore (Law Soc) this week, the task force concluded that “law firms and senior members of the bar should not merely view young lawyers as economic vectors but as professionals to be nurtured and developed in the best traditions of the Bar”.

Addressing the grouses of rookie lawyers and enhancing their professional training can also have an “incidental positive effect” on the attrition woes that have riddled this group for years, it added.

Trainees should also have opportunities to take on pro bono work, which allows them to “‘cut their teeth’ on real cases quickly”, it said.

The length of training contracts can be doubled to a year, it proposed, so that apprentices can gain more exposure in various practice groups.

Amid the rise of cryptocurrencies, a judge at the Singapore International Commercial Court has raised questions about the adequacy of existing laws to deal with the fallouts arising from computer errors.