Digivault, a part of EQONEX, and Asset Reality, a company that recovers seized crypto assets, has been chosen by Belgian law enforcement agencies to provide recovery, storage and management services for seized crypto assets.
Digivault is an Financial Conduct Authority-registered custodian. Asset Reality was created in 2020 to support law enforcement agencies as well as public and private sector clients in navigating asset recovery processes including investigations and the management of seized digital assets, including cryptocurrencies.
Since partnering last year, Digivault and Asset Reality have been driving efforts to bring safety and security to the digital asset industry through the building of bespoke solutions to mitigate risk and set new industry standards.
The two companies are also working together to engage with a growing list of government and law enforcement agencies across the UK and Europe, while advocating for sensible industry compliance standards.
Digital asset trading and investment have increased exponentially in the past two years, creating a new security challenge for governments, law enforcement agencies, public and private sector clients, says Asset Reality.
In the past two weeks alone, the Justice Department in the US recovered US$3.6 billion in bitcoin, while the HMRC in the UK recovered three non-fungible tokens.
Robert Cooper, CEO of Digivault, says: “Digivault’s core mission is to deliver a custody solution that removes a lot of the risk, technical headaches and ultimately stress of holding cryptocurrencies for our broad range of clients. We are proud of the work we do to help our clients to safely participate in the crypto opportunity, but we are particularly proud of the role we play alongside Asset Reality to support governments and agencies to safeguard the industry more broadly.”
Aidan Larkin, co-founder of Asset Reality, comments, “As asset seizures involving crypto assets continue to increase, it is vital that agencies have the infrastructure in place to recover, store and utilise these assets in a transparent, responsible and insured way. Acting as a seized asset co-ordinator, we have built a platform that connects users with a full range of crypto asset recovery services from reporting and investigating fraud involving crypto assets, through to finding suitable custodians to store and utilise seized crypto.”
Image: Sergii Figurnyi 