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Matt Green, Director and Head of Blockchain and Digital Assets and Technology Disputes, comments on the role of crypto exchanges in tackling fraud and explains how their cooperation can assist in the recovery of stolen or hacked crypto assets, in Law360.

Matt’s comments were published in Law360, 4 September 2024, and can be found here.

Speaking with Law360, Matt explained that lawyers will often approach crypto exchanges to ensure stolen assets are frozen – however most exchanges insist on a court order before freezing the proceeds of fraud. “They often feel like they need the direction of a third party, whether it be a court order or under instructions of law enforcement: it means they do not have to act unilaterally,” he commented.

Discussing the role of crypto exchanges in such cases, Matt explained that “if a bank was holding illicit cash, you wouldn’t sue them unless there were substantive grounds to do so. You want to be chasing the money and the individuals involved. The exchanges often play a key role in helping provide disclosure, which is why they are brought into proceedings.”