VIRGILIO TARRAGO DA SILVEIRA & Anor v HASHSTACS PTE. LTD. & Anor
Key facts
| Court | Court of Appeal (International) |
|---|---|
| Decided | |
| Judges | Arjan Kumar Sikri, Belinda Ang Saw Ean, Steven Chong |
| Charges / claim | Tort |
| Counsel | Holman Fenwick Willan Singapore LLP, Rajah & Tann Singapore LLP, Aaron Tan Kai Ran, Ang Ting Wei, Foo Xian Fong, Leong Li Shiong, Liew Min Yi Glenna, Vikram Nair |
Source: [2025] SGCA(I) 3, Court of Appeal (International), decided — eLitigation. Updated .
Catchwords
Practice Areas
Counsel (8)
Case Significance
[2025] SGCA(I) 3 is a Court of Appeal (International) decision dated 26 November 2025 concerning Tort, specifically addressing misrepresentation. The judgment was delivered by Belinda Ang Saw Ean, with Arjan Kumar Sikri and Steven Chong on the coram. The case was brought by Munchetty Investments Ltd and others (appellant) against Hashstacs Pte. Ltd. and others (respondent). Legal representation was provided by Holman Fenwick Willan Singapore LLP and Rajah & Tann Singapore LLP. The judgment cites 21 cases (15 Singapore, 6 foreign) and references 1 statutory provision, namely the Evidence Act.
[2025] SGCA(I) 3 explained
VIRGILIO TARRAGO DA SILVEIRA & Anor v HASHSTACS PTE. LTD. & Anor ([2025] SGCA(I) 3) is a Singapore judgment decided by the Court of Appeal (International) on 26 November 2025. It is categorised under Tort. It is a recent decision; within this corpus no later judgment has cited it yet. This page summarises what the reported decision covers and links the primary sources — the full judgment, the statutes it cites, and the other cases it engages with — so the decision can be read in context. It is reference information, not legal advice, and it does not state the outcome or any holding beyond what the official judgment records.
What is [2025] SGCA(I) 3 about?
VIRGILIO TARRAGO DA SILVEIRA & Anor v HASHSTACS PTE. LTD. & Anor ([2025] SGCA(I) 3) is a Court of Appeal (International) decision from 2025. Its published catchwords are “Tort — Misrepresentation — Fraud and deceit — Applicable principles for ascertaining representor of false representation of fact” and “Tort — Misrepresentation — Fraud and deceit — Whether statement of future vision constitutes actionable false representation of fact”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.
Which legislation does [2025] SGCA(I) 3 consider?
The judgment refers to Evidence Act (Cap 97). The statutes cited are listed in full on this page, each linking to its primary text.
What earlier Singapore cases does [2025] SGCA(I) 3 cite?
Among the in-corpus authorities it refers to are [2024] SGHC(I) 32. The complete list of cases cited, and of later cases that cite this decision, is shown on this page.
Summary
Virgilio da Silveira and Munchetty Investments claimed damages in deceit against Hashstacs and its director Soh Kai Jun over alleged misrepresentations in a crypto token whitepaper that induced the purchase of STACS Tokens. The central issue was whether statements in the whitepaper about a blockchain project's ambitions constituted actionable representations of fact or merely forward-looking statements about desired outcomes. The Court of Appeal dismissed the appeal, affirming that the whitepaper statements were prospective in nature and not proven to be false.
What was decided in [2025] SGCA(I) 3?
[2025] SGCA(I) 3 (VIRGILIO TARRAGO DA SILVEIRA & Anor v HASHSTACS PTE. LTD. & Anor) is a Court of Appeal (International) decision from 26 November 2025 addressing Tort, specifically misrepresentation. The judgment was delivered by Belinda Ang Saw Ean.
Who were the parties in VIRGILIO TARRAGO DA SILVEIRA & Anor v HASHSTACS PTE. LTD. & Anor ([2025] SGCA(I) 3)?
The appellant in [2025] SGCA(I) 3 was Munchetty Investments Ltd, Virgilio Tarrago da Silveira, and the respondent was Hashstacs Pte. Ltd., Soh Kai Jun. Legal representation included Holman Fenwick Willan Singapore LLP and Rajah & Tann Singapore LLP. The case was decided on 26 November 2025 in the Court of Appeal (International).
Which judge decided [2025] SGCA(I) 3?
[2025] SGCA(I) 3 was delivered by Belinda Ang Saw Ean in the Court of Appeal (International) on 26 November 2025. Arjan Kumar Sikri and Steven Chong also sat on the coram. The case concerned Tort.
What cases and statutes does [2025] SGCA(I) 3 cite?
[2025] SGCA(I) 3 cites 21 prior decisions, including 6 from foreign jurisdictions. It references Evidence Act.
Statutes Cited
Cases Cited (21)
Related cases
Other Singapore judgments involving the same parties or counsel.
Referenced in
Statutes interpreted in this judgment
Legal concepts & references
Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2025] SGCA(I) 3)