Crypto Forensics
Experts
QUANTUM RECOVERY LAW GROUP stands as a leading authority in crypto asset recovery, certified by CTCE (Cryptocurrency Tracing Certified Examiner). With extensive experience collaborating with exchanges and crypto wallets in theft cases, we've identified common vulnerabilities leading to user hacks:
Deceptive Investment Schemes- Compromised Private Keys or Seed Phrases
- Exploitation via Malicious Smart Contracts
- Infections by Bitcoin-stealing Malware
- Fraudulent Crypto Wallets
- Theft through Hacking Incidents
- Crypto Phishing Attacks
- Sim Swapping Frauds
UNDERSTANDING THE LANDSCAPE
Victims of crypto fraud possess avenues for recovery, given the traceability of transactions even in cases where perpetrators remain unidentified. Blockchain, being pseudonymous rather than fully anonymous, records all transactions, including wallet addresses, facilitating crypto movement tracking and identification of recipients of stolen assets. Aligned with the Legal Statement on Cryptoassets and Smart Contracts of 2019, English courts acknowledge crypto assets as property, allowing for injunctions and worldwide freezing orders to retrieve stolen crypto. Notably, Non-fungible tokens (NFTs) also fall under this property category.
Navigating Recovery Challenges
In cases where defendant identities are elusive, the "person unknown" jurisdiction in the UK and analogous mechanisms in other common law jurisdictions empower claimants to seek interim relief against specific categories, such as wallet owners receiving stolen funds. Orders enabling discovery of fraudster identities can be obtained, with courts granting Norwich Pharmacal Orders (NPOs) and Bankers Trust Orders (BTOs) against third parties like crypto exchanges for disclosing information on unknown wallet holders. A new civil procedure gateway, introduced in CPR PD 68 Para 3.1(25) from October 1, 2022, streamlines the process, facilitating cost-efficient information orders against non-jurisdictional parties.
Navigating Recovery Challenges
In cases where defendant identities are elusive, the "person unknown" jurisdiction in the UK and analogous mechanisms in other common law jurisdictions empower claimants to seek interim relief against specific categories, such as wallet owners receiving stolen funds. Orders enabling discovery of fraudster identities can be obtained, with courts granting Norwich Pharmacal Orders (NPOs) and Bankers Trust Orders (BTOs) against third parties like crypto exchanges for disclosing information on unknown wallet holders. A new civil procedure gateway, introduced in CPR PD 68 Para 3.1(25) from October 1, 2022, streamlines the process, facilitating cost-efficient information orders against non-jurisdictional parties.
In Conclusion
While cryptocurrencies are predominantly decentralized, the traceability factor remains robust. Digital wallets house these currencies, and each transaction is diligently recorded in the Blockchain. If you've encountered cryptocurrency losses, schedule a complimentary consultation to explore eligibility for our Cryptocurrency Tracing and Recovery services.