Announcements

Asset Reality to Help Victims of Crypto Crime Get Justice in New Industry Collaboration

Written By
Louise Bryant
April 27, 2022

Asset Reality is proud to announce a new collaboration designed to help victims of crypto-related fraud overcome the unnecessary barriers they face within the justice system.

Together with Grant Thornton UK LLP, Outer Temple Chambers, Rahman Ravelli and Sandton Capital, we have established a triage system to assess claims at the outset. A team of experts trained in investigation techniques and corporate intelligence will then examine the claims for merit and further legal assessment. Successful claims will be assessed and financed on a portfolio basis by Sandton Capital. They’ve dedicated £50m towards crypto-related litigation cases and their new portfolio facilities will allow them to finance multiple claims at once that would otherwise not have been possible.

Though crypto-related crime reached an all-time high last year, with fraudulent addresses receiving over $14 billion during 2021, cases brought before the courts are still shockingly low. This is largely because the majority of claims do not meet the investment thresholds needed to attract funders.

Our Co-Founder & CEO, Aidan Larkin, had this to say about the new collaboration:

"Asset Reality strives to make the digital asset ecosystem safer for users. Helping the victims of scams that involve digital assets is a key part of our mission. Many fraud victims cannot afford to pursue their stolen assets due to a lack of available funding options. We're delighted to be playing a part in this important initiative in addition to our work with the Crypto Fraud and Asset Recovery Network (CFAAR) to give victims a better chance of success in crypto asset recovery cases.”

Carmel King, Director at our partner Grant Thornton UK LLP, said:

“Our team has used and provided litigation funding for years, and we know it can facilitate access to justice for impecunious estates and their creditors. I am delighted that this collaboration widens the range of options available to victims of fraud in the investigation, litigation and recovery of their cryptoassets.”

Matt Meehan, Head of Sandton UK & Europe, added:

“Crypto fraud investigation, tracing, litigation and recovery is an evolving area of contentious disputes and we will allocate an initial £50m to fund crypto fraud claims. In London, we have assembled world class panels of crypto-focused investigators, solicitors, barristers and asset tracing professionals to support claimants in all aspects. The team at Sandton hopes to alleviate concerns by offering bespoke and transparent funding solutions to support one-stop crypto fraud recovery.”

Justina Stewart, Barrister at Outer Temple Chambers, concluded by saying:

“This is a real opportunity to push the boundaries of the law by working symbiotically with true experts, for the benefit of those who have been defrauded by increasingly sophisticated crypto frauds. All too often, potentially meritorious crypto fraud claims don’t get off the ground because of lack of funding and joined-up thinking between real specialists. Having been involved for years in and being at the forefront of the fascinating world of crypto-related litigation, our Outer Temple counsel are thrilled to be involved in this collaboration.”

If you would like to know more about our work in crypto asset recovery, contact connect@assetreality.com

For press enquiries, contact comms@assetreality.com