Cryptocurrency Fraud: Trends, Challenges and Recovery
Program Number
Program Date
CLE Credits
The cryptocurrency ecosystem, despite its incredible technological advancements and disruptive technology, continues to be plagued by illicit actors taking advantage of the less knowledgeable and nascient investor. Complex schemes, usually perpetrated by introductions on social media, promising outside gains and returns, direct novice investors and even more seasoned crypto afficianados to a platform, that is actually fictitious. Huge gains are displayed in investor accounts, that turn out to be false and completely imaginary. When investors seek the return of their funds and their “gains” they are told that they need to pay outrageous administrative fees”, “taxes” and other ‘costs’ to retrieve their money. Even when such payments are made, their funds are not returned.
With all of the direct, peer to peer capabilities and improvements of the blockchain, it remains challenging to retrieve stolen funds from private cryptowallets. These schemers often use mixers, “hot” wallets on exchanges, as part of their scheme, to move and store ill-gotten and stolen funds.
This presentation will address these challenges, and provide some possible avenues and solutions to recovery. Robert Appleton has successfully retrieved stolen funds for clients; traced cryptocurrency frauds and sought court intervention to retrieve monies. Robert successfully referred several matters to his former employer, the US Department of Justice, and federal law enforcement. In one recent case, the fraudster was arrested flying into London and extradited back to the United States, where he faces fraud charges related to his cryptocurrency scheme.
Robert can explain the strategies that are employed in the effort to retrieve the stolen crypto. Robert currently represents numerous victims in such efforts, and works closely with crypto investigation firms in his efforts.
Available in States
- California
- Colorado
- Florida
- Georgia
- New Jersey
- New York
- Texas Self Study
Program Categories
- Banking & Finance Law
- Computer, Internet & E-Commerce Law
- Cryptocurrency
- Federal Courts
- Florida Eligible
- Securities & Investing
- Technology Law
PROGRAM CREDITS
- Areas of Professional Practice : 1 Credit
