Signs of Cryptocurrency Fraud

As the popularity of cryptocurrencies has increased so has the potential for people to be defrauded when investing in cryptocurrencies. Typical signs of cryptocurrency fraud include:

  • Cryptocurrency being advertised on social media, often with celebrity images being used as promotion;
  • Promising high levels of return in a short period of time;
  • Cold calls or unsolicited contact about cryptocurrency investments;
  • Pressure to make payments by a deadline;
  • Requesting payments to be made in cryptocurrency;
  • The firm or exchange you are buying cryptocurrency from is not registered with the FCA; and
  • If receiving financial advice, the advisor is not FCA registered.

Recovering Mis-Sold Cryptocurrency

We have experience in crypto asset fraud and recovery having acted in the High Court in obtaining a freezing injunction and disclosure and preservation orders. We can help you understand whether you have been a victim of fraud and advise you on the options available to you in terms of recovery of your assets.

We utilise a broad professional network of leading barristers, forensic accountants and tracing providers to ensure clients receive the expert advice they require and have experience in dealing with assets that are located outside the jurisdiction of England Wales having successfully acted on matters involving a freezing injunction over crypto-assets.

Our commercial litigation team has experience in dealing with complex high-value fraud, misrepresentation and mis-selling claims including recent success in cryptocurrency fraud and injunctions.

Cryptocurrency Manipulation Claims

There have been a number of high-profile examples of market and cryptocurrency manipulation in recent years, with what is known as “pump and dump” schemes being particularly popular. The impact of this is to artificially inflate the price of a cryptocurrency to encourage people to invest in cryptocurrency only for the price to crash when a large allocation is sold quickly by those behind the scheme.

Cryptocurrency Dispute Solicitors

Our digital assets team has experience in other substantial litigation matters involving crypto assets including when there has been a breach of contract, misrepresentation or mis-selling of cryptocurrency. We also have experience in dealing with exchanges which have withheld funds from customers, successfully obtaining the return of these funds.

Ellis Jones can assist in litigation against individuals, exchanges, cryptocurrency platforms and financial advisors who have been involved or advised on cryptocurrency investment schemes. Get in touch with the team to find out more.

Cryptocurrency is a new and ever-expanding area of the law. We keep up to date with regulatory, legal and technological developments and have specialists within the team who fully grasp the technology behind cryptocurrency and digital assets involved to provide you with clear advice and strategy in approaching your dispute.

Here to help

Our specialist teams can provide full service legal advice and assistance, providing practical and cost-effective solutions.

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