With the UK regulator – the Financial Conduct Authority – clamping down on Binance, one of the world’s largest cryptocurrency exchanges, this serves as a reminder to anyone looking to invest in cryptocurrency to check both the legal status of the investments (and their host platform) and, more broadly, to check what consumer protections are…
Crypto recovery
We have an unrivalled track record of recovering crypto assets collectively worth tens of millions of pounds for organisations, including institutional investors, neobanks and in-play betting companies that have fallen victim to fraud.
We provide a unique, all-in-one crypto recovery service
We cover the entire process from investigating and tracing the proceeds of fraud, through to complex legal recovery processes and enforcement.
We’re a team of cyber intelligence specialists, recovery agents, forensic accountants and expert lawyers, working with our proprietary technology all under one roof.
If you have purchased our Crypto Legal Expenses Insurance Policy, all your legal costs are covered up to £250,000 and you will keep all the assets that are successfully recovered.
If you’re not insured, we may still be able to help, as long as you’re able to fund the recovery process or can access after-the-event (ATE) and adverse costs insurance.
From insuring crypto asset investments before the event, right through to recovering crypto assets should the worst happen, we’re here to protect your crypto investments.
We have a 100% success rate, and recovered in the region of £500,000 worth of crypto assets last year alone.
The process
1 Initial investigations
Once you’ve instructed us, we’ll kick off right away. Using proprietary methodologies and investigative technologies, we’ll start by trying to locate the stolen assets, establish whether fraud has taken place, and ascertain whether the funds are recoverable. We’ll then carry out an initial legal review into the prospects of success in recovering the assets.
If you’re not insured, we’re often able to offer a fixed fee for this initial work, with no obligation for you to continue to engage us.
2 Disclosure
If we’re both still happy to continue pursuing the case, we’ll enter into a damages-based agreement (DBA) with you, usually on a 30% recovery basis (this is far lower than market standard). We would then usually seek to obtain disclosure orders and freezing injunctions against the exchanges that facilitated the relevant transaction(s), which helps us to more precisely locate – and subsequently protect – the stolen crypto assets.
3 Legal proceedings
Next, we’ll commence legal proceedings against the fraudsters, which is possible even if they cannot be specifically identified. If the fraudsters fail to respond, judgment will usually be given in your favour (this is often a straightforward procedural step).
4 Enforcement
Once the funds have been located, we’ve proven fraud, frozen the assets and obtained judgment, we can then enforce the judgment to recover the frozen assets (usually from a digital wallet, in these circumstances).
This process, if not defended, usually takes six to nine months from start to finish.
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