A Quick Lesson in Cryptocurrency Asset Forfeiture for Scam Victims – 2024
A Quick Lesson in Asset Forfeiture for Scam Victims
A Commentary on the Process of Recovering Cryptocurrency
Primary Category: Guest Editorial
Author:
• Val Harkless, Senior Fraud Analyst/Investigator
About This Article
Cryptocurrency asset forfeiture for scam victims is a challenging process primarily due to limited resources and complex legal procedures. Investigators and agencies face significant hurdles, including a lack of trained personnel, high prosecution thresholds (typically between $300,000 to $500,000), and minimal experience in handling crypto-related investigations.
Asset forfeiture typically falls under three categories: administrative, criminal, and civil judicial, with most major cryptocurrency forfeitures processed through civil judicial actions.
