Insolvency Service appoints first dedicated crypto specialist to help recover online assets such as Bitcoin
Summary: Enforcement action (9 June 2025): The Insolvency Service appointed its first dedicated crypto specialist to trace and recover digital assets in insolvency cases. Relevant if a platform fails or you are an executor dealing with a deceased person's wallets. Official detail is on gov.uk.
Why a specialist role matters
Crypto insolvencies involve blockchain tracing, exchange subpoenas, and cold-wallet recovery — skills rare in traditional insolvency. A dedicated specialist signals that UK authorities treat digital assets as recoverable property in formal proceedings.
For platform customers
If a firm enters insolvency, join the creditor process promptly and submit proof of holdings with wallet addresses and transaction IDs. Recovery may take years.
For executors and families
When someone dies holding crypto, executors need wallet access instructions and exchange records. Our executor journey explains practical steps.
Frequently asked questions
Can insolvency recover crypto sent to a scam? +
Sometimes partially, through tracing and asset freezes — but many scam proceeds are unrecoverable.