A £5bn Bitcoin haul has thrown victims’ rights into sharp focus. In this week's NLJ, Gary Pons, Sarah Wood and Barnaby Hone of 5 St Andrew’s Hill examine how UK law tackles cryptoassets under the Proceeds of Crime Act 2002
The Zhang case, involving 61,000 Bitcoin linked to a massive investment fraud, highlights both the ease with which crypto can be moved anonymously and the legal complexity of getting it back.
Victims may intervene in confiscation, civil recovery or magistrates’ court forfeiture proceedings—each with different burdens and remedies. ‘What is the best forum for a victim to try to recover any stolen funds that can be traced into crypto?’ the authors ask. Their answer is pragmatic: early engagement with law enforcement and expert tracing can be faster and cheaper than traditional routes. The courts now face the challenge of turning digital traces into real-world justice.
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