UK Police Recover $671,000 in Stolen Crypto Under Proceeds of Crime Act
Capital Recovery Service Supports Landmark £520,000 Cryptocurrency Recovery for 80-Year-Old Fraud Victim
Location: United Kingdom Amount Recovered: £520,000 (~$671,000) Year: 2023 – Present Case Type: Cryptocurrency fraud targeting an elderly victim Legal Basis: Proceeds of Crime Act 2002 (Crypto Amendment – October 2023)

Before:
In a devastating scam, an 80-year-old man, known only as Mr A, fell victim to fraudsters posing as legitimate cryptocurrency exchange operators. Over time, he sent 9.1 Bitcoin — worth approximately £520,000 — to the criminals.

The fraudsters quickly converted the Bitcoin into USDT (Tether) and transferred it to an account with an overseas exchange, making the recovery process complex and cross-jurisdictional.

Our Role at Capital Recovery Service:
When approached for assistance, Capital Recovery Service worked alongside UK police, Edmonds Marshall McMahon, 5SAH Chambers, and Grant Thornton to build a strong legal and investigative case. Our contributions included:

  • Blockchain tracing of the stolen BTC from initial transaction to final USDT account.

  • Providing detailed wallet intelligence to support legal freezing orders.

  • Advising on the application of the amended Proceeds of Crime Act 2002 to digital asset recovery.

  • Coordinating with overseas exchange compliance teams to halt movement of the stolen funds.

Our Role at Capital Recovery Service:

Due to the sensitive nature of asset recovery, we never disclose personal or company identities without explicit consent.

After:
Using the new crypto-specific provisions added to the Proceeds of Crime Act in October 2023, Mr A was able to apply for the release of funds from wallets subject to freezing orders.

The result was a full recovery of £520,000, marking a British legal first in the use of these new powers for cryptocurrency fraud victims. This case set a precedent for similar recoveries in the future.

Why This Matters:

  • This was one of the first successful UK cryptocurrency recoveries under the amended Proceeds of Crime Act.

  • Showcases how Capital Recovery Service applies legal innovation to complex asset recovery cases.

  • Demonstrates that even elderly victims of sophisticated fraud can achieve justice and restitution.

Capital Recovery And Assets Services

Financial Loss and Assets

If you are a victim of cryptocurrency theft or fraud no matter how complex or global the case Capital Recovery Service can work with legal authorities to trace, identify, and recover your stolen assets.