Crypto Fraud

As cryptocurrency and other digital assets gain pace, the mainstream lenders, banks and other financial service providers managing them will need to ensure they meet legal and compliance standards.

Ireland continues to be an attractive destination for crypto firms, with prominent players choosing Ireland as their EU hub ahead of the implementation of Markets in Crypto Assets regulation. As the number of e-money licences granted by the Central Bank of Ireland and the volume of Virtual Asset Service Providers continues to grow, Ireland is positioned to be a key jurisdiction in the resolution of crypto-asset related disputes.

The crypto industry has long been viewed as vulnerable to fraud, manipulation and criminal activity. However, the use of legal remedies to recover or protect crypto assets has come sharply into focus globally in the wake of high profile collapses of FTX, Three Arrows Capital and Voyager. In Ireland, to date, the emphasis has been on the use of injunctive relief to: (a) identify a party who has misappropriated crypto assets; and (b) obtain freezing orders to allow owners recover their assets.

Our services

Our team has significant experience in crypto-asset recovery and are well acquainted with the innovative and creative approaches required to apply traditional legal remedies to assist crypto-currency holders.

Our Dispute Resolution specialists work closely with other Ogier teams globally which specialise in crypto to provide an end-to-end
service.

Uniquely in Ireland, Ogier is a law firm that has genuine global reach and expertise. With offices in 13 jurisdictions globally and Cayman, BVI, Dubai and Hong Kong in particular Ogier can activate a legal recovery plans in multiple jurisdictions simultaneously and rapidly, which is often the difference between success and failure when recovering as crypto-assets that are vulnerable to dissipation.

Since June 2022, Ogier has advised the liquidators of Three Arrows Capital Limited, then the world’s largest cryptobased hedge fund, putting Ogier’s global network at the heart of crypto-recovery efforts which spanned the BVI, US, Canada, Cayman, BVI, Hong Kong, UK, Italy, Seychelles and Singapore. The breadth of this global experience means Ogier is unparalleled in Ireland for cross-border crypto-asset recovery experience.