In previous articles posted to this website, we have reported on the nature of Cryptocurrency Fraud generally and the manner in which it can be tackled in both civil and criminal courts.

For the most recent article please follow the link:

Cryptocurrency Fraud | A Growing Problem | Kangs Solicitors

Tim Thompson of Kangs Solicitors now outlines how we can assist in tracing cryptocurrency assets fraudulently misappropriated from investors.

Our award-winning team is nationally recognised for its work in Civil and Criminal financial investigations including cryptocurrency investigations and prosecutions and is led by Hamraj Kang, a nationally recognised leader in the field of financial crime investigations.

The team at Kangs Solicitors is highly experienced in representing clients who have been subjected to cryptocurrency fraud and is available to assist anyone requiring assistance.

Our team can be contacted for confidential and discrete advice as follows:

Website Fraud | Kangs Cryptocurrency Fraud Solicitors

With novice investors seeking to access the highly publicised promises of high returns from cryptocurrency investment, many are naively committing their investment money directly rather than through established Investment Houses.

As a result, perpetrators of fraud are queuing up to ‘scam’ those whom they can draw into their fraudulent websites which, because of the possibility of the enormous sums of money that can be extracted, justify the time and cost involved creating elaborate and convincing online websites, bogus companies, methods of creating contact and associated deception methods designed to draw in unsuspecting victims.

Given the professional presentation of these fraudulent websites, investors are convinced that the bogus companies behind them can be trusted to transfer their money into digital assets with a regular consequence that, far from enjoying a financial return on their investment, they are simply cheated out of the money they thought was being invested legitimately.

Cryptocurrency Tracing | Kangs Asset Tracing Solicitors

As soon as fraud is suspected, it is paramount that the victim takes immediate action to endeavour to limit the concealment of any trail that the fraudsters may have left behind.

This trail generally involves a mixing and concealment exercise passing the assets through various ‘wallets’ and locations.

At some point, the digital asset has to pass through, or be destined for an entity, such as a:

  • Cryptocurrency exchange
  • Blockchain marketplace

which allows the fraudsters to convert the digital assets into ‘cash’ which, of course, never reaches the hapless victim.

How Can We Assist? | Kangs Financial Crime Solicitors

  • The team at Kangs Solicitors is experienced utilising specialist tracing tools, also adopted by law enforcement authorities around the world, which follow the movements of digital assets.
  • Once a digital asset has been traced, application may be made to the High Court for such remedies as:

A Form of Disclosure Order.

Such an Order compels the recipient of the Order, such as a Cryptocurrency Exchange, to disclose the information requested. Cryptocurrency Exchanges are obliged to obtain from account holders, ‘Know Your Client’ documentation, which provide a wealth of information which may assist to identify the fraudsters. 

A Freezing Injunction.

Such an Injunction will freeze the asset being pursued preventing its disposal and dissipation thereby providing time for the appropriate steps to be taken designed to effect the return of the asset.

Who Can I Contact For Help? | Kangs National Cryptocurrency Solicitors

We welcome enquiries by telephone or email.

We provide an initial no obligation consultation from our offices in London, Birmingham, and Manchester.

Alternatively, we provide initial consultations by telephone or video conferencing.

Contact:

Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888

Stuart Southall
ssouthall@kangssolicitors.co.uk
020 7936 6396 | 0121 449 9888

Tim Thompson
tthompson@kangssolicitors.co.uk
020 7936 6396 | 0121 449 9888