TechFlow, April 5 — According to Decrypt, London police have partnered with law firm Gowling WLG to launch a civil asset recovery program. The initiative primarily targets cases where criminal prosecution is not possible, offering victims of cryptocurrency fraud and similar crimes an opportunity to recover their assets.
Previously, UK police successfully recovered £520,000 (approximately $671,000) worth of stolen cryptocurrency for an 80-year-old man through a pilot project. This recovery was made possible by updates to the Proceeds of Crime Act 2002, which granted police the authority to freeze stolen digital assets.
Gowling director Bríd Holden said the collaboration aims to encourage more victims to come forward. The joint program will coordinate recovery efforts among law enforcement, victims, and their legal representatives to combat organized crime groups.
