Coinfirm partners with Kroll to help users recover lost or stolen crypto

Pawel Kuskowski, CEO at London-based Coinfirm, a company focused on developing regulations technology, or Regtech, for blockchain-based financial assets, estimates that there's $10 billion in stolen cryptocurrencies.

In order to help victims recover their funds, Coinfirm has partnered with cybersecurity firm Krollwire to launch ReclaimCrypto.com.

There's usually no recourse for people who've lost their crypto assets due to a malicious hack, exit scams, or Ponzi scheme.

Analytics firm CipherTrace estimates that around $4 billion in cryptocurrency was lost in 2019.

Kuskowski's estimate takes historic events such as the infamous Mt. Gox hack into consideration, which accounts for approximately $1 billion in stolen or lost funds.

Kroll also works with former FBI and CIA agents to monitor the dark web for any suspicious activity that may be connected to stolen cryptocurrency.

Kroll has been working with the SEC to investigate fraudulent token sales.

Kroll has been working closely with the US Securities and Exchange Commission since 2018.

ReclaimCrypto's main purpose is to recover lost or stolen funds because that's what the company's customers will be paying for.

ReclaimCrypto's management said it will mainly try to recover Bitcoin and Ether it might also help clients track down missing XRP, Bitcoin Cash, Litecoin, NEO and Dash.Posted In: Adoption, Hacks, Partnerships, Scams.