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Cryptocurrency Fraud

Cryptocurrency assets are becoming an integral part of our financial system and are increasingly used for trading and investment. The universal benefits of cryptocurrencies, including their ability to make transactions quicker, cheaper and more accessible are well known.

Unfortunately, these same benefits make cryptoassets vulnerable to theft and misuse. As the popularity (and value) of cryptoassets has risen, so too has the amount of crypto-related fraud, with a record of US$14 billion of cryptoassets stolen worldwide in 2021 according to a report by Chainalysis.

Our fraud lawyers are part of one of the largest dedicated groups of international injunction specialists. We have a successful track record in assisting clients who have had assets stolen and concealed around the world, with particular experience acting on high-value cryptocurrency fraud claims. We work closely with investigators to trace misappropriated cryptoassets, including by using cutting edge blockchain analytics tools, and where appropriate move swiftly to obtain a combination of disclosure and freezing orders to identify the perpetrators of fraud and recover stolen cryptoassets.

Our reach extends far beyond the UK. Through our networks we have access to the best local specialist law firms and investigators worldwide. Our recent crypto-related work has included litigation in Singapore, Hong Kong and the United States. In Singapore, with the assistance of a member of our International Fraud Group, we obtained the first ever freezing order against persons unknown in what is understood to be the most significant crypto case heard thus far in the Singapore courts. We also have experience of obtaining disclosure orders against some of the largest cryptocurrency exchanges and of executing civil search orders to seize and preserve evidence of cryptocurrency fraud.

When required, we work closely with a number of market leading litigation funders. In addition, we have partnered with Harbour, a Chambers & Partners Band 1 and Legal 500 Tier 1 UK litigation funder, to create MDR Solutions I, a litigation finance venture. Third party litigation funding is permitted in numerous common law jurisdictions and under the rules of many arbitrations. We can help clients to navigate various funding options and allow them to unlock the value of their claims while alleviating the risks associated with litigation.

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